Authentic Equity's blank check company prices $200M IPO

Authentic Equity Acquisition Corp., a blank check company of consumer-focused private equity firm Authentic Equity LLC, priced its IPO of 20.0 million units at $10.00 per unit, for estimated gross proceeds of $200.0 million.

Each unit consists of one class A ordinary share and one-half of one redeemable warrant. Each whole warrant entitles the holder to purchase one class A ordinary share at a price of $11.50 per share.

The blank check company, which will seek investments in consumer products and services sectors, has granted underwriters a 45-day overallotment option to acquire up to 3.0 million additional units.

The units will be listed on the Nasdaq Capital Market and will begin trading under the ticker AEACU on Jan. 15. The class A ordinary shares and warrants will trade under the symbols AEAC and AEACW, respectively.

The offering is expected to be completed Jan. 20.

Jefferies LLC and BMO Capital Markets Corp. are joint bookrunning managers for the offering.