AEA-Bridges Impact Corp., a blank check company formed by AEA Investors and Bridges Fund Management targeting businesses with a strong impact and ESG profile, filed on Monday with the SEC to raise up to $400 million in an initial public offering.
The Cayman Islands-based company plans to raise $400 million by offering 40 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50. At the proposed deal size, AEA-Bridges Impact Corp. would command a market value of $500 million.
The company is led by Co-CEO and Chairman John Garcia, who joined AEA Investors in 1999 and currently serves as the firm's Executive Chairman, and Co-CEO and Director Michele Giddens, the co-founder and Co-CEO of Bridges Fund Management. The company plans to target businesses that align with its impact-driven investment focus and provide attractive risk-adjusted returns, seeking to set and enact strategies which maximize the lockstep between financial growth and impact delivery, and operate and create value through support of a strong impact and ESG profile or a transition toward best-in-class impact management practices.
AEA-Bridges Impact Corp. was founded in 2020 and plans to list on the NYSE under the symbol IMPX.U. The SPAC filed confidentially on August 7, 2020. Credit Suisse and Citi are the joint bookrunners on the deal.
