InterPrivate IV InfraTech Partners Inc. Announces Completion of $287,500,000 Initial Public Offering

Rhea-AI Summary

InterPrivate IV InfraTech Partners Inc. announced the closing of its initial public offering (IPO) on March 9, 2021, raising $287.5 million through the issuance of 28,750,000 units at $10.00 per unit. Each unit includes one share of Class A common stock and one-fifth of a redeemable warrant, with warrants exercisable at $11.50 per share. The company aims to focus on high-growth businesses in the technology, media, and telecom sectors, targeting firms with an enterprise value of $1 billion or more. The IPO is being managed by Morgan Stanley and Wells Fargo.

Positive

• Successfully raised $287.5 million through IPO.
• Focus on acquiring high-growth businesses in technology, media, and telecom sectors.

Negative

• Potential dilution of shares from warrant exercises could affect existing shareholders.
• No assurance that proceeds will be used as indicated due to forward-looking statement risks.

NEW YORK, March 9, 2021 /PRNewswire/ -- InterPrivate IV InfraTech Partners Inc. (Nasdaq: IPVI) (the "Company") announced today that it closed its initial public offering of 28,750,000 units, including 3,750,000 units issued pursuant to the exercise by the underwriters of their over-allotment option in full, at a price of $10.00 per unit. The units are listed on the Nasdaq Capital Market ("Nasdaq") and commenced trading under the ticker symbol "IPVIU" on March 5, 2021. Each unit consists of one share of Class A common stock and one-fifth of one redeemable warrant, with each whole warrant exercisable to purchase one share of Class A common stock at a price of $11.50 per share. After the securities comprising the units begin separate trading, the shares of Class A common stock and warrants are expected to be listed on Nasdaq under the symbols "IPVI" and "IPVIW," respectively.

InterPrivate IV InfraTech Partners Inc. is a blank check company whose business purpose is to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. While the Company may pursue initial business combination targets in any industry, the Company currently intends to concentrate its efforts in identifying high growth businesses in the technology, media and telecom infrastructure space, with a focus on target companies with an enterprise value of $1 billion or more.

Morgan Stanley and Wells Fargo Securities acted as joint book-running managers, and EarlyBirdCapital, Inc. acted as co-manager of the offering.

A registration statement relating to these securities was declared effective by the U.S. Securities and Exchange Commission (the "SEC") on March 4, 2021. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

The offering was made only by means of a prospectus. Copies of the prospectus relating to this offering may be obtained from Morgan Stanley, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014, or by email at prospectus@morganstanley.com; Wells Fargo Securities, Attention: Equity Syndicate Department, 500 West 33^rd Street, New York, New York 10001, via telephone 1-800-326-5897, or via email at cmclientsupport@wellsfargo.com; or from EarlyBirdCapital, Inc., 366 Madison Avenue, 8th Floor, New York, NY 10017, Attn: Syndicate Department, 212-661-0200.

Cautionary Note Concerning Forward-Looking Statements 
This press release contains statements that constitute "forward-looking statements," including with respect to the Company's initial public offering and search for an initial business combination. No assurance can be given that the proceeds of the offering will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company's registration statement for the initial public offering filed with the SEC. Copies are available on the SEC's website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Press Contact
Charlotte Luer, Marketing
cluer@interprivate.com

 

View original content:http://www.prnewswire.com/news-releases/interprivate-iv-infratech-partners-inc-announces-completion-of-287-500-000-initial-public-offering-301244074.html

SOURCE InterPrivate IV InfraTech Partners Inc.

FAQ

What is the size of InterPrivate IV InfraTech Partners Inc.'s IPO?

The IPO raised $287.5 million with the issuance of 28,750,000 units at $10.00 each.

What does each unit consist of in the IPO?

Each unit consists of one share of Class A common stock and one-fifth of a redeemable warrant.

What is the purpose of InterPrivate IV InfraTech Partners Inc.?

The company aims to effect a merger or similar business combination with high-growth businesses, focusing on technology, media, and telecom infrastructure.

What are the ticker symbols for InterPrivate IV InfraTech Partners Inc. securities?

The Class A common stock trades under the ticker symbol 'IPVI', and warrants trade under 'IPVIW'.

Who are the underwriters for the IPO?

Morgan Stanley and Wells Fargo Securities acted as joint book-running managers for the IPO.