PACEU News

This past week saw the last three IPOs of 2016 raise $735 million. IPO investors were stubborn until the end, as all three had to price at large discounts to public peers and below expectations. After hitting all time highs earlier in the week, markets absorbed the Fed's long-anticipated rate hike and the news of three potential increases next year. The year ended...read more

Playa Hotels & Resorts (PLYA), which owns 13 all-inclusive beach resorts in Mexico and the Caribbean, announced Tuesday it has entered into a merger agreement with Pace Holdings (PACEU), a special purpose acquisition company backed by TPG. The transaction value is estimated at $1.75 billion. Pace's management has significant experience in the travel...read more

Pace Holdings, a TPG-backed blank check company led by the co-founder of Hotwire.com, raised $400 million by offering 40 million shares at $10, as expected. Pace Holdings plans to list on the Nasdaq under the symbol PACEU. Deutsche Bank and Citi acted as lead managers on the deal....read more

Pace Holdings, a TPG-backed blank check company led by the co-founder of Hotwire.com, filed and set terms for an upcoming IPO on Thursday. The Fort Worth, TX-based company plans to raise $400 million by offering 40 million units for $10 each. At that price, the SPAC would command a market value of $500 million. It may raise an additional $60 million in the...read more