Newly-formed Subversive Capital SPAC launches $500 mln IPO
Subversive Capital Acquisition Corp (SCAC) has filed a final prospectus with Canadian regulatory authorities outside of Québec for an initial public offering (IPO) on the Neo Exchange. The IPO is for Class A restricted voting units priced at US$10 per unit, for total proceeds of US$500 million, not including the greenshoe option. SCAC, a newly-formed special purpose acquisition corporation (SPAC), in June said it will target businesses in the cannabis industry or related sectors. SCAC is sponsored by Subversive Capital Sponsor LLC. Its chairman is Michael Auerbach, general partner of U.S. venture capital firm Subversive Capital.
11 July 2019•5 mins read
