Altimar Acquisition, a blank check company formed by HPS Investment Partners, raised $250 million by offering 25 million units at $10. Each unit consists of one share of common stock and one-third of a warrant, exercisable at $11.50. The company originally planned to offer 30 million units before decreasing the unit offering on Wednesday.
The company is led by CEO and Chairman Tom Wasserman, Managing Director and head of the Growth Equity Group at HPS Investment Partners, and CFO Wendy Lai, who is also a Managing Director at HPS and leads the corporate finance, regulatory capital compliance, and technology transformation of financial systems. Altimar Acquisition plans to focus on four key industries: TMT, healthcare, financial services/fintech, and consumer. Altimar intends to pursue companies that are poised to experience strong growth and possess efficient business models that have or may have strong cash flow generation.
Altimar Acquisition plans to list on the NYSE under the symbol ATACU. Goldman Sachs acted as sole bookrunner on the deal.
