Star Peak Corp II, a blank check company backed by Magnetar Capital and Triangle Peak Partners, has raised $350 million for its IPO after pricing its 35 million shares at $10 per share. The stock began trading January 6, 2021 on the New York Stock Exchange under the ticker symbol “STPC.U.” Credit Suisse Securities (USA) LLC and Goldman Sachs are the underwriters.
NEW YORK–(BUSINESS WIRE)–Star Peak Corp II (the “Company”), a blank check company sponsored by affiliates of Magnetar Capital LLC and Triangle Peak Partners, LP and formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses, today announced the pricing of its initial public offering of 35,000,000 units at a price of $10.00 per unit. The units will be listed on the New York Stock Exchange and trade under the ticker symbol “STPC.U” beginning January 6, 2021. Each unit consists of one share of Class A common stock of the Company and one-fourth of one warrant. Each whole warrant entitles the holder thereof to purchase one share of Class A common stock of the Company at a price of $11.50 per share, subject to adjustment, and only whole warrants are exercisable. Once the securities comprising the units begin separate trading, the shares of Class A common stock and warrants are expected to be listed on the New York Stock Exchange under the symbols “STPC” and “STPC WS,” respectively.
The offering is expected to close on January 8, 2021, subject to customary closing conditions.
Credit Suisse Securities (USA) LLC and Goldman Sachs & Co. LLC are acting as book running managers for the offering. The Company has granted the underwriters a 45-day option to purchase on a pro rata basis up to 5,250,000 additional units at the initial public offering price, less the underwriting discounts and commissions. The options may be exercised only to cover any over-allotments of units.
The offering is being made only by means of a prospectus. When available, copies of the prospectus may be obtained from Credit Suisse Securities (USA) LLC, Attn: Prospectus Department, 6933 Louis Stephens Drive, Morrisville, North Carolina 27560, telephone: (800) 221-1037 or email: email@example.com, or Goldman Sachs & Co. LLC, Attn: Prospectus Department, 200 West Street, New York, New York 10282, telephone: 1-212-902-1171, facsimile: 212-902-9316 or email: firstname.lastname@example.org.