Skadden Steers $700M IPO For Goldman Sachs SPAC

Law360 (June 30, 2020, 6:12 PM EDT) -- A special purpose acquisition company sponsored by Goldman Sachs started trading Tuesday after raising $700 million in an initial public offering steered by Skadden Arps Slate Meagher & Flom LLP.

GS Acquisition Holdings Corp. II on Tuesday priced 70 million units at $10 each and started trading on the New York Stock Exchange under the symbol GSAH.U, where its units opened at $10.40 apiece. The company may raise additional funds from the offering if its underwriters — which include Goldman Sachs — use their option to purchase up to 10.5 million more shares.

Special purpose acquisition companies, also called blank-check companies,...

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