Impact and ESG SPAC AEA-Bridges Impact Corp. prices $400 million IPO at $10

AJ Gonzalez | October 2, 2020


AEA-Bridges Impact Corp., a blank check company formed by AEA Investors and Bridges Fund Management targeting impact and ESG businesses, raised $400 million by offering 40 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50.

The company is led by Co-CEO and Chairman John Garcia, who joined AEA Investors in 1999 and currently serves as the firm’s Executive Chairman, and Co-CEO and Director Michele Giddens, the co-founder and Co-CEO of Bridges Fund Management.

The company plans to target businesses that align with its impact-driven investment focus and provide attractive risk-adjusted returns, seeking to set and enact strategies which maximize the lockstep between financial growth and impact delivery, and operate and create value through support of a strong impact and ESG profile or a transition toward best-in-class impact management practices.

AEA-Bridges Impact Corp. plans to list on the NYSE under the symbol IMPX.U. Credit Suisse and Citi acted as joint bookrunners on the deal.

The article Impact and ESG SPAC AEA-Bridges Impact Corp. prices $400 million IPO at $10 originally appeared on IPO investment manager Renaissance Capital’s web site

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital’s research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital’s Renaissance IPO ETF (symbol: IPO), Renaissance International ETF (symbol: IPOS), or separately managed institutional accounts may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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