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Consumer-focused SPAC Conyers Park II files for a $400 million IPO

June 28, 2019
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Conyers Park II Acquisition Corp, a consumer-focused blank check company led by consumer industry veterans, filed on Friday with the SEC to raise up to $400 million in an initial public offering.

The Greenwich, CT-based company plans to raise $400 million by offering 40 million units at a price of $10. At $10, Conyers Park II Acquisition Corp would command a market value of $500 million. Each unit will consist of one share of common stock and one-fourth of one warrant to purchase a share of common stock at $11.50 per share.

Conyers Park II Acquisition Corp was founded in 2019 and it plans to list on the Nasdaq under the symbol CPAA.U. Deutsche Bank and Goldman Sachs are the joint bookrunners on the deal.