EQV Ventures Acquisition Corp. (EQVU) raised $350 million– as expected – on Tuesday night, Aug. 6, 2024 – on the heels of the U.S. stock market’s rally following Monday’s brutal sell-off. EQV Ventures Acquisition priced 35.0 million units at $10.00 each – in sync with the terms in its prospectus. Each unit consisted of one Class A ordinary share and one-third of one redeemable warrant, according to the prospectus.
Shares of EQV Ventures Acquisition opened at $9.95 – down 5 cents from their $10.00 SPAC IPO price – today (Wednesday, Aug. 7, 2024) on the New York Stock Exchange. Volume for the day so far was about 7.73 million shares at noon EDT. (Editor’s Note: This column, published before the opening bell on Wednesday, Aug. 7, 2024, was updated at midday with details on the stock’s debut on the NYSE.)
For the day, shares of EQV Ventures Acquisition fell 7 cents to close Wednesday (Aug. 7, 2024) at $9.93 on NYSE volume of 12.75 million (12,754,104) shares.
BTIG, LLC was the sole book-runner for EQV Venture Acquisition’s IPO.
EQV Ventures Acquisition, based in Park City, Utah, says it will search for upstream oil and natural gas assets within the overlooked basins of North America and Europe, according to the prospectus.
EQV Ventures Acquisition’s sponsor is an affiliate of the EQV Group. As of Dec. 31, 2023, EQV Group owned and managed about 1,500 oil and gas properties across 10 U.S. states and 16 basins with an active network of about 75 operating partners, according to the prospectus.
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