XPAC Acquisition Corp. (XPAXU) Prices $200M IPO

(note: SPACInsider will only publish pricing once a team officially puts out their own press release. XPAC did not publish their press release until 6:00PM ET on 7/30/21)

XPAC Acquisition Corp. announced the pricing of its $200 million IPO and its shares are expected to begin trading on the Nasdaq under the symbol “XPAXU” Friday, July 30.

The new SPAC aims to combine with a target that is a leading player and high-quality asset within the Brazilian economy, and has a defensible market position.  XPAC is led by Chairman and CEO Chu Kong, CIO Guilherme Teixeira, and CFO Fabio Kann.

Total SPAC deal count for 2021 year-to-date is now 388. This offering is expected to close on Monday, August 2.

Citigroup acted as sole book-running manager. XP Investimentos Corretora de Câmbio, Títulos e Valores Mobiliários S.A. acted as financial advisor. Skadden, Arps, Slate, Meagher & Flom LLP is serving as Issuer’s Counsel with Shearman & Sterling LLP serving as Underwriter’s Counsel. Marcum LLP serves as auditor. Continental Stock Transfer & Trust Company is acting as trustee.