Mason Industrial Technology, Inc. (MIT.U) Prices Upsized $450M IPO


Mason Industrial Technology, Inc. (MIT.U) Prices Upsized $450M IPO

Mason Industrial Technology, Inc. announced the pricing of its upsized $450 million IPO this evening and its units are expected to begin trading on the NYSE under the symbol “MIT.U” Friday, January 29.

The new company aims to combine with a differentiated industrial technology business that has solutions for increasing productivity and reduce costs. Mason Industrial is led by CEO Edward A. Rose III, CFO Derek Satzinger, Chairman Michael E. Martino and Vice Chair Philip B Whitehead.

Total SPAC deal count for 2021 year-to-date is now 87 with $24.5 billion in gross proceeds raised. This offering is expected to close on Tuesday, February 2.

Citigroup Global Markets Inc. and Jefferies LLC are serving as joint book-running managers for the offering. DLA Piper LLP is serving as Issuer’s Counsel with Kirkland & Ellis LLP serving as Underwriter’s Counsel. Marcum LLP serves as auditor. Continental Stock Transfer & Trust Company is acting as trustee.