Ackrell SPAC Partners I Co. (ACKIU) Prices Upsized $120M IPO


Ackrell SPAC Partners I Co. (ACKIU) Prices Upsized $120M IPO

Ackrell SPAC Partners I Co. announced the pricing of its upsized $120 million IPO this evening and its units are expected to begin trading on the Nasdaq under the symbol “ACKIU” today, December 21.

The new company aims to combine with a fast-moving consumer goods (FMCG) business in the beverage, hemp-based or wellness categories. Ackrell is led by Chairman Michael K. Ackrell alongside Non-Executive Chairman Shannon Soqui, CEO Jason M. Roth, COO and President Stephen N. Cannon, and CFO Long Long.

Total SPAC deal count for 2020 year-to-date is now 243 with $81.2 billion in gross proceeds raised. This offering is expected to close on Wednesday, December 23.

EarlyBirdCapital, Inc. is acting as sole book-running manager for the offering with I-Bankers Securities, Inc. serving as co-manager. Ellenoff Grossman & Schole LLP is serving as Issuer’s Counsel with Graubard Miller serving as Underwriter’s Counsel. UHY LLP serves as auditor. Continental Stock Transfer & Trust Company LLC is acting as trustee.