Group Nine Acquisition Corp. (GNACU) Prices $200M IPO


Group Nine Acquisition Corp. (GNACU) Prices $200M IPO

Group Nine Acquisition Corp. announced the pricing of its $200 million IPO this evening and its units are expected to begin trading on the Nasdaq under the symbol “EACPU” Friday, January 15.

The new company aims to combine with a business in digital media or adjacent industries, including the social media, e-commerce, and events. Group Nine is led by CEO and Chairman Ben Lerer, President Brian Sugar and CFO and Secretary Sean Macnew.

Total SPAC deal count for 2021 year-to-date is now 53 with $14.6 billion in gross proceeds raised. This offering is expected to close on Wednesday, January 20.

Barclays Capital Inc. and Code Advisors LLC are acting as joint book-running managers for this offering. Latham & Watkins LLP is serving as Issuer’s Counsel with Sidney Austin LLP serving as Underwriter’s Counsel. Grant Thornton LLP serves as auditor. Continental Stock Transfer & Trust Company LLC is acting as trustee.