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Stock impact report

Neuberger Berman, dealmaker Chu upsize blank-check IPO deal: sources [Reuters]

Virgin Galactic Holdings, Inc. (SPCE) 
Company Research Source: Reuters
Neuberger Berman, dealmaker Chu upsize blank-check IPO deal: sources NEW YORK (Reuters) - Veteran Wall Street dealmaker Chinh Chu and investment firm Neuberger Berman on Thursday increased to $360 million the amount they are looking to raise in an initial public offering for a new blank-check company, according to people familiar with the matter. Chu and Neuberger Berman had originally targeted a raise of $300 million for CC Neuberger Principal Holdings I PCPL_u.K, but increased that by 20% due to an order book that was close to three times oversubscribed, the sources said. The sources requested anonymity as the matter is private. CC Capital, Chu’s investment firm, and Neuberger Berman declined to comment. The vehicle is a special purpose acquisition company (SPAC), which raises a blind pool of funds in an IPO to acquire a company. CC Neuberger Principal has said it will target a business in the financial, technology and business services sectors. It is the first in a series of up to Show less Read more
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