Empowerment & Inclusion Capital I Corp. Prices Upsized $240M IPO


Empowerment & Inclusion Capital I Corp. Prices Upsized $240M IPO

Empowerment & Inclusion Capital I 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 “EMPR.U” Friday, January 8.

The new company aims to combine with a diverse-led business or a business focused on promoting an inclusive economy and society. Empowerment & Inclusion is led by Chairman and CEO Harold Ford Jr. alongside CFO and Secretary Virginia Henkels.

Total SPAC deal count for 2021 year-to-date is now 21 with $5.1 billion in gross proceeds raised. This offering is expected to close on Tuesday, January 12.

Jefferies LLC and Siebert Williams Shank & Co., LLC are acting as the joint bookrunning managers for the offering, and Academy Securities, Inc., Blaylock Van, LLC, C.L. King & Associates, Inc., Loop Capital Markets LLC and Samuel A Ramirez & Company, Inc. are acting as joint bookrunners. White & Case LLP is serving as Issuer’s Counsel with Kirkland & Ellis LLP serving as Underwriter’s Counsel. WithumSmith+Brown, PC serves as auditor. Continental Stock Transfer & Trust Company LLC is acting as trustee.