Power & Digital Infrastructure Acquisition II Corp. (XPDBU) Prices $250M IPO


Power & Digital Infrastructure Acquisition II Corp. (XPDBU) Prices $250M IPO

Dec 10, 2021 IPOs by Marlena Haddad

Power & Digital Infrastructure Acquisition II Corp. announced the pricing of its $250 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “XPDBU” Friday, December 10.

The new SPAC intends to pursue opportunities that are driving the electrical power grid transition, both on the supply and demand side, as well as seeking co-optimization opportunities between supply and demand, of the electrical grid in the United States. Power & Digital Infrastructure II is led by Chairman of the Board Theodore J. Brombach, Chief Executive Officer Patrick C. Eilers, Chief Financial Officer James P. Nygaard Jr., Vice President John B. Sexton, and General Counsel and Secretary John P. McGarrity.

Total SPAC deal count for 2021 year-to-date is now 589. This offering is expected to close on Tuesday, December 14.

Barclays and BofA Securities are acting as the joint book-running managers of the offering. Kirkland & Ellis LLP is serving as Issuer’s Counsel with Vinson & Elkins L.L.P. serving as Underwriter’s Counsel. Marcum LLP serves as auditor. Continental Stock Transfer & Trust Company is acting as trustee.