Citigroup and UBS Serve as Joint Book-Running Managers for IPO of Sandbridge Acquisition Corp.
September 21, 2020
New York – Paul Hastings LLP, a leading global law firm, announced today that it advised Citigroup Global Markets Inc. and UBS Securities LLC as joint book-running managers for the pricing of the $230 million initial public offering by Sandbridge Acquisition Corporation.
Sandbridge priced its IPO of 23,000,000 units at $10.00 per unit. Each unit consists of one share of the company’s Class A common stock and one-half of one redeemable warrant. The shares were listed for trading on the New York Stock Exchange under the ticker symbol “SBG.U” on Sept. 15, 2020.
Sandbridge Acquisition Corporation was formed by private equity firm Sandbridge Capital and PIMCO for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar combination, with a focus on the consumer and consumer-related sectors. Ken Suslow, Founding Managing Partner at Sandbridge Capital, serves as the Chief Executive Officer and Chairman of the Sandbridge Acquisition Corporation board of directors.
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