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American Virtual Cloud Technologies (Pensare Acquisition) Priced, Nasdaq: AVCT

Blank check company formed by a MasTec executive to acquire a wireless telecom business (completed 4/7/2020).

Industry: SPAC

First Day Return: +0.7%

Industry: SPAC

We are a blank check company formed in April 2016. While our efforts in identifying a prospective target business for our initial business combination will not be limited to a particular industry or geographic region, we intend to initially focus our search on identifying a prospective target business in the wireless telecommunications industry in the United States. We do not have any specific business combination under consideration and we have not had any substantive discussions, formal or otherwise, with respect to such a transaction. We expect that the wireless telecommunications industry will experience significant growth in coming years. Global mobile data traffic increased by 63% in 2016, and is projected to continue to increase by similar rates for the coming five years. Our CEO, Darrell J. Mays, has over 30 years' experience in the wireless telecommunications industry and our President, Dr. Robert Willis, Chairman of the Board, Lawrence E. Mock, Jr., independent directors Bert Ellis, Suzanne Shank and Karl Krapek and special advisors Rayford Wilkins, Jr., Dr. David Panton and Michael Pietropola, have significant experience in private investments, ownership and management of businesses of many types.
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IPO Data
IPO File Date 07/06/2017
Offer Price $10.00
Price Range $10.00 - $10.00
Offer Shares (mm) 27.0
Deal Size ($mm) $270
Lock-Up Date IPO Pro Only
Street Research IPO Pro Only
IPO Data
IPO Date 07/27/2017
Offer Price IPO Intelligence Only
Price Range IPO Intelligence Only
Offer Shares (mm) IPO Intelligence Only
Deal Size ($mm) $270
Lock-Up Date IPO Intelligence Only
Street Research IPO Intelligence Only
Underwriters
IPO Intelligence Only
Company Data
Headquarters Atlanta, GA, United States
Founded 2017
Employees at IPO 3
Website avctechnologies.com

American Virtual Cloud Technologies (Pensare Acquisition) (AVCT) Performance