Cohn, Robbins double size of SPAC IPO to US$600m

摘要

COHN ROBBINS, the SPAC headed by Gary Cohn and Clifton Robbins, is slated to launch marketing of an upsized US$600m IPO this Tuesday for pricing later in the week. Late in August, Credit Suisse, acting as sole books, refiled from a US$300m target for CSR Acquisition (the SPAC's previous name) after bringing on board Gary Cohn and doubling its size. The deal was scheduled to launch but never did so, despite some reports. It is now being re-evaluated by the SEC. Aside from the larger offering size, there are no significant structural changes to Cohn Robbins. The SPAC is still structured as one share, one-third warrant, with 100% of proceeds held in trust and a 24-month investment horizon. Cohn Robbins' focus has, however, narrowed to target acquisitions in consumer, tech, software and fintech verticals.