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One is latest SPAC to explore an IPO
Posted on Friday, 31 July 2020 10:54
One, a newly incorporated blank check company, is seeking USD 200.00 million through a stock market flotation on the New York Stock Exchange, under the ticker symbol AONE.U.

Under the terms of the transaction, the business is offering 20.00 million units, comprising one class A ordinary share and one-third of a redeemable warrant, of which each whole one is transferable to one stock at a price of USD 11.50 apiece.

Each item is worth USD 10.00 apiece - the same value underwriters will pay if they wish to redeem the 3.00 million 45-day overallotment option.

Goldman Sachs has been appointed as the sole bookrunner for the stock market flotation.

A-star, One’s sponsor, has agreed to purchase 4.00 million warrants at USD 11.50 apiece in a private placement to close concurrently with the IPO.

The special purpose acquisition company (SPAC) intends to partner with founders, operators and entrepreneurs to build great groups that advance the technology industry.

A blank check firm’s sole purpose is to acquire or merge with a business and take on its name, place of business and operations.

There have been 125 IPOs involving funds, trusts and other financial vehicles announced worldwide in 2020 to date, according to Zephyr, the M&A database published by Bureau van Dijk.

In the largest of these and the most valuable listing involving a SPAC on record, Pershing Square Tontine Holdings raised USD 4.00 billion on the New York Stock Exchange.

Churchill Capital Corporation IV (USD 1.50 billion), Foley Trasimene Acquisition (USD 1.04 billion) and Churchill Capital Corporation III (USD 1.00 billion) each fetched more than USD 1.00 billion in the year so far.

Other companies to announce IPOs in 2020 include Social Capital Hedosophia Holdings Corporation III, GS Acquisition Holdings Corporation II and Yuanta Global NexGen Communication Innovative Technology ETF.

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