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Apollo-Backed Blank-Check Co. Prices Upsized $480M IPO

Law360 (August 10, 2018, 5:11 PM EDT) -- An energy-focused blank-check company backed by funds affiliated with Apollo Global Management LLC on Thursday raised $480 million in an upsized initial public offering guided by Vinson & Elkins LLP.

Spartan Energy Acquisition Corp. priced 48 million units at $10 each, increasing its previously announced offer of 40 million units at the same price. According to Spartan, each unit consists of one full share of Class A common stock and one-third of a warrant. Each whole warrant can be exchanged for share of Class A stock at a price of $11.50 per share, Spartan said.

Spartan is a blank-check company, also...

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