Ivanhoe Capital Acquisition Corp. (IVAN.U) Prices Upsized $240M IPO


Ivanhoe Capital Acquisition Corp. (IVAN.U) Prices Upsized $240M IPO

Ivanhoe Capital Acquisition Corp. announced the pricing of its upsized $240 million IPO this evening and its units are expected to begin trading on the NYSE under the symbol “IVAN.U” Thursday, January 7.

The new company aims to combine with a business helping to facilitate the transition away from fossil fuels as a power source. Ivanhoe is led by Chairman and CEO Robert Friedland, CFO Gartner and Chief Investment Officer Andrew Boyd.

Total SPAC deal count for 2021 year-to-date is now 12 with $2.6 billion in gross proceeds raised. This offering is expected to close on Monday, January 11.

Morgan Stanley & Co. LLC is acting as the sole book-running manager for the offering. White & Case LLP is serving as Issuer’s Counsel with Kirkland & Ellis LLP serving as Underwriter’s Counsel. WithumSmith+Brown serves as auditor. Continental Stock Transfer & Trust Company LLC is acting as trustee.