Periphas Capital Partnering Corp. (PCPC.U) Prices Upsized $360M IPO


Periphas Capital Partnering Corp. (PCPC.U) Prices Upsized $360M IPO

Periphas Capital Partnering Corporation announced the pricing of its $300 million IPO this evening and its units are expected to begin trading on the NYSE under the symbol “PCPC.U” tomorrow, Thursday, December 10.

The new company aims to combine with a technology-enabled target valued at more than $750 million in consumer or B2B services. Periphas is led by CEO and Director Sanjeev Mehra alongside COO and Director Jeff Dodge, CFO John Bowman and EVP Anish Pathipati.

Total SPAC deal count for 2020 year-to-date is now 220 with $74.98 billion in gross proceeds raised. This offering is expected to close on Monday, December 14.

Evercore Group L.L.C. is acting as the sole book-running manager for the offering. Kirkland & Ellis LLP is serving as Issuer’s Counsel with Davis Polk & Wardwell LLP serving as Underwriter’s Counsel. WithumSmith+Brown, PC serves as auditor. Continental Stock Transfer & Trust Company LLC is acting as trustee.