ScION Tech Growth I (SCOAU) Prices $500M IPO


ScION Tech Growth I (SCOAU) Prices $500M IPO

ScION Tech Growth I announced the pricing of its $300 million IPO this evening and its units are expected to begin trading on the Nasdaq under the symbol “SCOAU” tomorrow, Thursday, December 17.

The new company aims to combine with a fintech business that has a history of strong operating and financial results. ScION is led by Executive Chairman Andrea Pignataro, CEO and Director Mathew J. Cestar and CFO Alex Triplett.

Total SPAC deal count for 2020 year-to-date is now 237 with $79.87 billion in gross proceeds raised. This offering is expected to close on Monday, December 21.

UBS Securities LLC and Citigroup Global Markets Inc. are acting as joint book-running managers for the offering. White & Case LLP is serving as Issuer’s Counsel with Weil, Gotshal & Manges LLP serving as Underwriter’s Counsel. Marcum LLP serves as auditor. Continental Stock Transfer & Trust Company LLC is acting as trustee.