Broadscale Acquisition Corp. (SCLEU) Prices Upsized $300M IPO


Broadscale Acquisition Corp. (SCLEU) Prices Upsized $300M IPO

Broadscale Acquisition Corp. announced the pricing of its upsized $300 million IPO this evening and its units are expected to begin trading on the Nasdaq under the symbol “SCLEU” Friday, February 12.

The new company aims to combine with a business bringing tangible improvements to the health, energy, food and transportation sectors. Broadscale is led by Chairman and CEO Andrew L. Shapiro, Vice Chairman Edward E. Cohen, CFO and Head of Acquisitions John P. Hanna, and Chief Legal Officer and Secretary Jeffrey F. Brotman.

Total SPAC deal count for 2021 year-to-date is now 138 with $41.7 billion in gross proceeds raised. This offering is expected to close on Wednesday, February 17.

Morgan Stanley is acting as sole book-running manager for the offering. Ledgewood is serving as Issuer’s Counsel with Skadden, Arps, Slate, Meagher & Flom LLP serving as Underwriter’s Counsel. WithumSmith+Brown, PC serves as auditor. Continental Stock Transfer & Trust Company is acting as trustee.