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SPAC NextGen Acquisition prices $350 million IPO at $10

October 7, 2020

NextGen Acquisition, a blank check company targeting the industrial and healthcare sectors, raised $350 million by offering 35 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 Co-Chairman George Mattson, a former Partner and Co-Head of the Global Industrials Group in Investment Banking at Goldman Sachs, and Co-Chairman Gregory Summe, founder and Managing Partner of Glen Capital Partners and former Managing Director and Vice Chairman of Global Buyout at the Carlyle Group. The company plans to leverage its management team's experience and target the industrial and healthcare sectors.

NextGen Acquisition plans to list on the Nasdaq under the symbol NGACU. Goldman Sachs and Credit Suisse acted as joint bookrunners on the deal.