Renaissance Capital logo

ACON Investments' sustainability-focused SPAC ACON S2 Acquisition prices $250 million IPO at $10

September 17, 2020

ACON S2 Acquisition, a blank check company formed by ACON Investments targeting a sustainable business, raised $250 million by offering 25 million units at $10. Each unit consists of one share of common stock and one-third of a warrant, exercisable at $11.50.

The company is led by CEO and Director Adam Kriger, an Executive Partner in ACON Investments' private equity group and former SVP of Corporate Strategy for The McDonald's Corporation, and CFO and Chairman John Roush, an executive advisor to ACON Investments and former President of PerkinElmer's environmental business. The company plans to target a business that employs a strategic approach to sustainability, environmental, social and/or economic, with an overall transaction value between $500 million and $2 billion.

ACON S2 Acquisition plans to list on the Nasdaq under the symbol STWOU. Deutsche Bank, Cowen and Stifel acted as lead managers on the deal.