AEA-Bridges Impact Corp., a blank check company formed by AEA Investors and Bridges Fund Management targeting impact and ESG businesses, raised $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.
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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. plans to list on the NYSE under the symbol IMPX.U. Credit Suisse and Citi acted as joint bookrunners on the deal.
