Paul Ryan-chaired Executive Network Partnering sets IPO terms with plan to raise about $300 million

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Blank-check company Executive Network Partnering Corp. set terms for its initial public offering on Monday, with plans to raise about $300 million. The company, which is chaired by former House Speaker Paul Ryan, is planning to offer 12 million securities called CAPS priced at $25 each. Each CAPS consists of one share of Class A common stock, and one-quarter of one redeemable warrant. The company has applied to list on the New York Stock Exchange under the ticker “ENPC.U.” Evercore ISI is sole underwriter on the deal. Proceeds will be used to acquire a business. Alex Dunn, a former president of Vivint Smart Home and Vivint Solar, is chief executive of the company. Richard Boyce, former partner at private-equity firm TPG Capital, and a former CEO of J. Crew, is a director of the board, along with Gisel Ruiz, a former Walmart Inc. executive.
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