InterPrivate IV InfraTech Partners Inc. Announces Pricing of $250 Million Initial Public Offering

Rhea-AI Summary

InterPrivate IV InfraTech Partners has priced its initial public offering (IPO) at $10.00 per unit, raising $250 million. The offering comprises 25 million units, each consisting of one share of Class A common stock and one-fifth of a redeemable warrant, with whole warrants exercisable at $11.50 per share. Trading begins on March 5, 2021, under the ticker symbol IPVIU. The offering will close on March 9, 2021.

InterPrivate plans to focus on mergers in the technology, media, and telecom sectors, targeting companies with an enterprise value of $1 billion or more.

Positive

• Raised $250 million from IPO to target high-growth businesses.
• Focus on technology, media, and telecom infrastructure sectors presents growth potential.

Negative

• Potential for dilution if underwriters exercise their option for additional units.
• Forward-looking statements carry risks that may affect IPO completion and planned use of proceeds.

NEW YORK, March 5, 2021 /PRNewswire/ -- InterPrivate IV InfraTech Partners Inc. (the "Company") announced today the pricing of its initial public offering of 25,000,000 units at a price of $10.00 per unit. The units will be listed on the Nasdaq Capital Market ("Nasdaq") and trade under the ticker symbol "IPVIU" beginning 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. The offering is expected to close on March 9, 2021.

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 are acting as joint book-running managers, and EarlyBirdCapital, Inc. is acting as co-manager of the offering. The Company has granted the underwriters a 45-day option to purchase up to an additional 3,750,000 units at the initial public offering price to cover over-allotments, if any.

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 is being made only by means of a prospectus. When available, 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 such offering will be completed on the terms described, or at all, or 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
InterPrivate
+1 212 634 0826
cluer@interprivate.com

 

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SOURCE InterPrivate IV InfraTech Partners Inc.

FAQ

What is the price of the IPO for InterPrivate IV InfraTech Partners (IPVIU)?

The IPO is priced at $10.00 per unit.

When is the expected closing date for the IPO of InterPrivate IV InfraTech Partners (IPVIU)?

The expected closing date is March 9, 2021.

What does each unit in the IPO for InterPrivate IV InfraTech Partners (IPVIU) consist of?

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

What are the future trading symbols for InterPrivate IV InfraTech Partners after the IPO?

The Class A common stock will trade under the symbol IPVI and warrants under IPVIW.

How much is InterPrivate IV InfraTech Partners aiming to raise with its IPO?

The company aims to raise $250 million with the IPO.

What sectors does InterPrivate IV InfraTech Partners plan to focus on post-IPO?

The company plans to focus on technology, media, and telecom infrastructure sectors.