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PE-backed Experience Investment raises $275M in IPO

Private equity firm KSL Advisors LLC-backed Experience Investment Corp. raised gross proceeds of $275.0 million in an IPO.

The IPO comprised 27.5 million units, including 2.5 million units issued pursuant to the partial exercise of the underwriters' overallotment option to purchase up to 3,750,000 additional units. Each unit comprises one share of the company's class A common stock and one-third of one redeemable warrant, with each warrant exercisable at $11.50 per share.

Experience Investment is a travel- and leisure-focused blank-check company.

Deutsche Bank Securities, Citigroup and J.P. Morgan were the book-running managers.