Subversive Capital SPAC closes $575 mln IPO on Neo Exchange
Subversive Capital Acquisition Corp (SCAC) has closed its initial public offering (IPO) on the Neo Exchange, raising proceeds of US$575 million, including the greenshoe option. The offering was distributed by Canaccord Genuity Corp. SCAC, a newly-formed special purpose acquisition corporation (SPAC), said it will now focus on sourcing and completing a qualifying transaction, targeting opportunities in the cannabis and related sectors. New York-based SCAC is sponsored by Subversive Capital Sponsor LLC. Its chairman is Michael Auerbach, general partner of U.S. venture capital firm Subversive Capital.
16 July 2019•5 mins read
