Class Acceleration Corp. (CLAS.U) Prices $225M IPO


Class Acceleration Corp. (CLAS.U) Prices $225M IPO

Class Acceleration Corp. announced the pricing of its $225 million IPO this evening and its units are expected to begin trading on the NYSE under the symbol “CLAS.U” Friday, January 15.

The new company aims to combine with a business in the media, entertainment or digital leaning spheres in a high-growth market. Class Acceleration is led by Co-Executive Chairmen Joseph E. Parsons and Robert C. Daugherty and CEO Michael T. Moe.

Total SPAC deal count for 2021 year-to-date is now 45 with $12.1 billion in gross proceeds raised. This offering is expected to close on Wednesday, January 20.

Oppenheimer & Co. is acting as the sole book-running manager for this offering. Ellenoff Grossman & Schole LLP is serving as Issuer’s Counsel with Skadden, Arps, Slate, Meagher & Flom LLP serving as Underwriter’s Counsel. Marcum LLP serves as auditor. Continental Stock Transfer & Trust Company LLC is acting as trustee.