PE-sponsored SPAC Bespoke closes $350 mln IPO on TSX

Bespoke Capital Acquisition Corp (BCAC) has closed its initial public offering (IPO) on the Toronto Stock Exchange, raising US$350 million. The proceeds will increase to US$402 million if the IPO's greenshoe option is exercised in full. The underwriters are Canaccord Genuity Corp and Citigroup Global Markets Canada Inc. BCAC, a newly-formed special purpose acquisition corporation (SPAC), is focused on acquiring one or more businesses in the cannabis industry. The London, U.K.-based SPAC is sponsored by Bespoke Sponsor Capital LP, which is controlled by U.K. private equity firm Bespoke Capital Partners. Its directors include Bespoke Founders Rob Berner and Mark Harms.

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