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The Music Acquisition Corporation Announces Closing of $230M IPO

Deals & Cases
February 5, 2021
The Music Acquisition Corporation Announces Closing of $230M IPO Background Image
Deals & Cases
February 5, 2021

Vinson & Elkins advised the underwriters in connection with an initial public offering of 23,000,000 units by The Music Acquisition Corporation (the “Company”), which includes the 3,000,000 units sold pursuant to the exercise of the underwriters’ over-allotment option in full. The offering was priced at $10.00 per unit, resulting in gross proceeds of $230,000,000.

The Company’s units are listed on the New York Stock Exchange and commenced trading under the ticker symbol “TMAC.U” on February 3, 2021. Each unit consists of one share of Class A common stock and one-half of one redeemable warrant, with each whole warrant exercisable to purchase one share of Class A common stock at a price of $11.50 per share. Once the securities comprising the units begin separate trading, the shares of Class A common stock and warrants are expected to be listed on the NYSE under the symbols “TMAC” and “TMAC WS,” respectively. The IPO closed on February 5, 2021.

The V&E team was led by partners Ramey Layne and Alan Beck with senior associate Raleigh Wolfe and associate Jonathan Villa.

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