Investindustrial Acquisition, a blank check company formed by Investindustrial targeting the consumer, healthcare, industrial, and tech sectors, raised $350 million by offering 35 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 may raise an additional $250 million at the closing of an acquisition pursuant to a forward purchase agreement with its sponsor.
The company is led by CEO and Director Roberto Ardagna, who currently leads the team focused on companies with high growth potential at Investindustrial, which he joined in 2010. Ardagna is joined by CFO Andrea Cicero, who currently serves as a Principal at Investindustrial. Former UBS Group CEO Sergio Ermotti will serve as Chairman effective January 2021. The SPAC plans to leverage its management team's experience and target businesses in the consumer, healthcare, industrial, and tech sectors with enterprise values between $1 billion and $5 billion.
Investindustrial Acquisition plans to list on the NYSE under the symbol IIAC.U. Deutsche Bank and Goldman Sachs acted as lead managers on the deal.
