Progress Acquisition Corp. (PGRWU) Prices Upsized $150M IPO

Progress Acquisition Corp. announced the pricing of its upsized $150 million IPO this morning and its units are expected to begin trading on the Nasdaq under the symbol “PGRWU” Tuesday, February 9.

The new company aims to combine with a digital media, entertainment and technology company with a low-churn subscription model. Progress is led by CEO Warren Schlichting, CFO Richard Gallagher and President David Arslanian.

Total SPAC deal count for 2021 year-to-date is now 128 with $37.7 billion in gross proceeds raised. This offering is expected to close on Thursday, February 11.

EarlyBirdCapital, Inc. is acting as the sole book-running manager for the offering. Ellenoff Grossman & Schole LLP is serving as Issuer’s Counsel with Graubard Miller LLP serving as Underwriter’s Counsel. Marcum LLP serves as auditor. Continental Stock Transfer & Trust Company is acting as trustee.