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EQV Ventures Acquisition Corp., a special purpose acquisition company, announced the successful completion of its initial public offering (IPO) and concurrent private placements, resulting in $350 million in gross proceeds, according to a recent filing with the Securities and Exchange Commission. The IPO was finalized on August 8, 2024, with the company offering 35,000,000 units at $10.00 per unit and private placements of an additional 662,500 units.
The funds raised from the IPO and the private placements, collectively referred to as the Offering Proceeds, have been placed into a trust account for the benefit of the company’s public shareholders and the underwriters. Continental Stock Transfer & Trust Company is acting as the trustee for this account.
The trust account is designed with specific conditions for the release of funds. Except for certain permitted withdrawals, such as interest to pay up to $100,000 of liquidation expenses, the Offering Proceeds will remain in the trust account until one of the following occurs: the completion of the company’s initial business combination, the redemption of public shares in connection with a shareholder vote to amend the company’s governing documents, or if the company fails to complete a business combination within 24 months of the IPO’s closing.
The company’s units, Class A ordinary shares, and redeemable warrants are all listed on the New York Stock Exchange under the symbols EQVU, EQV, and EQVW, respectively. Each redeemable warrant entitles the holder to purchase one Class A ordinary share at a price of $11.50 per share.
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