LinkedIn, Zynga Founders' Blank-Check IPO Raises $600M

Law360 (September 17, 2020, 9:12 PM EDT) -- LinkedIn co-founder Reid Hoffman and Zynga founder Mark Pincus' blank-check company, Reinvent Technology Partners, went public Thursday after pricing a $600 million initial public offering steered by Skadden and Ropes & Gray.

New York-based Reinvent sold 60 million units at $10 each late on Wednesday. Its units began trading Thursday on the New York Stock Exchange under the symbol "RTP.U." Reinvent is represented by Skadden Arps Slate Meagher & Flom LLP while Ropes & Gray LLP is advising the underwriter.

Blank-check companies, also known as special-purpose acquisition companies, are shell entities that raise money through IPOs in order to acquire a...

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