Sandbridge Acquisition, a blank check company formed by Sandbridge Capital targeting a consumer business, raised $200 million by offering 20 million units at $10. Each unit consists of one share and one-half of a warrant, exercisable at $11.50.
The company is led by CEO and Chairman Ken Suslow, the Founding Managing Partner of private equity firm Sandbridge Capital, and CFO Richard Henry, a Principal at Sandbridge Capital. The company plans to target a consumer business that can benefit from accelerating digitization and omni-channel transformation.
Sandbridge Acquisition plans to list on the NYSE under the symbol SBG.U. Citi and UBS Investment Bank acted as lead managers on the deal.
