White & Case Advises Ascendant Digital Acquisition Corp. on Its US$414 Million IPO
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Global law firm White & Case LLP has advised Ascendant Digital Acquisition Corp. on its US$414 million initial public offering of 41,400,000 units, which includes 5,400,000 units issued pursuant to the exercise by the underwriters of their over-allotment option in full, at a public offering price of US$10.00 per unit. The units are listed on the New York Stock Exchange (NYSE) and trade under the ticker symbol "ACND.U." Once the securities comprising the units begin separate trading, the Class A ordinary shares and warrants are expected to be listed on the NYSE under the symbols "ACND" and "ACND WS," respectively.
Ascendant Digital Acquisition Corp. is a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The Company intends to focus on businesses that operate within the "Attention Economy," which includes various converging sectors, such as interactive entertainment, film/television, music, comics, board games, books, esports, live events and other forms of consumer entertainment, enabling services and technologies.
UBS Investment Bank acted as the sole book-running manager of the offering. Odeon Capital Group, LLC acted as lead manager of the offering.
The White & Case team was led by partners Joel Rubinstein and Elliott Smith, and included associates Sarah Ross, Jordan Leon and Brian Munsie (all in New York).
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