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Transportation SPAC Pegasus Digital Mobility Acquisition prices $200 million IPO

October 22, 2021
PGSS.U

Pegasus Digital Mobility Acquisition, a blank check company targeting the next-generation transportation sector, raised $200 million by offering 20 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50. Anchor investors had indicated on $215 million worth of units in the offering (108% of the deal).

The company is led by CEO and Chairman Ralf Speth, who most recently served as the CEO of Jaguar Land Rover, and previously held roles at Linde Group, Ford Motor Company, and BMW Group. The company plans to target the next-generation transportation sector, including both battery electric as well as hydrogen fuel cell electric vehicles, and defining transportation as both the mobility of people and the transportation of goods. It plans to focus on opportunities in the European market.

Pegasus Digital Mobility Acquisition plans to list on the NYSE under the symbol PGSS.U. Barclays acted as sole bookrunner on the deal.