European media SPAC Atlantic Alliance Partnership prices IPO at $10, raising $75 million

Atlantic Alliance Partnership, a blank check company focused on the media, internet and consumer sectors in the UK and Europe, raised $75 million by offering 7.5 million shares at $10. 

Unlike most blank check companies, AAP did not offer warrants in its offering.

AAP's executives (26% post-IPO stake) invested $7.6 million in a concurrent private placement. Chairman and CEO Jonathan Goodwin is also the founder and CEO of Lepe Partners, a London-based merchant bank. Before that, he served as Head of Global TMT (technology, media, telecom) investment banking at Jefferies. Goodwin served as co-founder and CEO of LongAcre Partners until Jefferies acquired the boutique investment bank in 2007 for an estimated £40 million. 

Atlantic Alliance Partnership plans to list on the NASDAQ under the symbol AAPC and begin trading today. Citi acted as a lead manager on the deal.