Silver Crest Acquisition Corp. (SLCRU) Prices Upsized $300M IPO

Silver Crest Acquisition Corporation announced the pricing of its upsized $300 million IPO this evening and its units are expected to begin trading on the Nasdaq under the symbol “SLCRU” Thursday, January 14.

The new company aims to combine with a business with differentiated products and services in high growth consumer and consumer technology sectors. Silver Crest is led by Chairman Leon Meng, Vice Chairman Christopher Lawrence and CEO Derek Cheung.

Total SPAC deal count for 2021 year-to-date is now 41 with $11.2 billion in gross proceeds raised. This offering is expected to close on Tuesday, January 19.

UBS Investment Bank is serving as the sole book-running manager for this offering. Kirkland & Ellis LLP is serving as Issuer’s Counsel with Ellenoff Grossman & Schole LLP serving as Underwriter’s Counsel. WithumSmtih+Brown, PC serves as auditor. Continental Stock Transfer & Trust Company LLC is acting as trustee.