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Moelis & Company's SPAC Atlas Crest Investment V files for a $200 million IPO

March 2, 2021
ACCV.U

Atlas Crest Investment V, the fifth blank check company formed by Moelis & Company, filed on Tuesday with the SEC to raise up to $200 million in an initial public offering.

The New York, NY-based company plans to raise $200 million by offering 20 million units at $10. Each unit consists of one share of common stock and one-fourth of a warrant, exercisable at $11.50. At the proposed deal size, Atlas Crest Investment V would command a market value of $250 million.

The company is led by Chairman Ken Moelis, the founder and CEO of Moelis & Company, and CEO and Director Michael Spellacy, a former Senior Managing Director at Accenture and Global Industry Leader of Accenture Capital Markets. The company plans to focus on a target in an industry which complements its management team's expertise and would benefit from its strategic and operational value add.

Management's other SPACs include Atlas Crest Investment II (ACII.U; +7% from $10 offer price), which went public last month; Atlas Crest Investment (ACIC; +29%), which went public in October 2020 and has a pending merger agreement with electric aircraft developer Archer; and Atlas Crest Investment III (ACCC.U) and Atlas Crest Investment IV (ACIV.U), which filed concurrently with Atlas Crest Investment V.

Atlas Crest Investment V was founded in 2021 and plans to list on the NYSE under the symbol ACCV.U. Cantor Fitzgerald is the sole bookrunner on the deal.