Atlas Crest ACIC.U 1C + 1/3W
Trust IPO $500mm. $10.00
1 W + $11.50. Call $18. Pipe protect $9.20
24 months. Close October 30, 2020
particularly attractive investment opportunities in certain high growth sectors including media, online gaming/sports betting, fintech/payments, healthcare, business services and disruptive consumer, food and beverage.
Atlas Crest Investment Corp. (NYSE: ACIC.U) today announced the appointment of Todd Lemkin, currently a Partner and Chief Investment Officer of Canyon Partners, LLC, a global alternative asset management firm, as an independent member of its Board of Directors. Mr. Lemkin’s term will begin on December 18, 2020.
Our management team is led by Ken Moelis, our Chairman, and Michael Spellacy, our Chief Executive Officer and a director. Mr. Moelis’ and Mr. Spellacy’s careers have centered around identifying, evaluating and implementing organic and inorganic transformational growth and value creation initiatives across a broad range of industries. Our sponsor is an affiliate of Moelis & Company, a leading global financial advisor to corporate executives, boards, entrepreneurs, financial sponsors and governments. Mr. Moelis and Chris Callesano, our Chief Financial Officer, are Managing Directors at Moelis.
We believe that the experience and capabilities of our management team will make us an attractive partner to potential target businesses, enhance our ability to complete a successful initial business combination and enhance the value of the business post-business combination. Additionally, we believe the proprietary sourcing channels and extensive relationship network of our management team and from our affiliation with Moelis, combined with our operating, investing, capital markets and transaction experience, provide us with a competitive advantage.
Mr. Moelis is a global leader in the investment banking industry, with almost 40 years of investment banking and mergers and acquisitions experience. During his career, Mr. Moelis has helped build and manage three of the most successful financial services growth stories of the past three decades. In 2007, Mr. Moelis founded Moelis & Company and in 2014 led Moelis’ initial public offering (“IPO”) while being named EuroMoney’s Banker of the Year. Since its IPO, Moelis has organically grown revenues by over 80% and has generated a total shareholder return of over 125%, including quarterly and special dividends, eclipsing its peer group and major financial indices. Mr. Moelis is Chairman of the Board, Chief Executive Officer and controlling shareholder of Moelis.
Moelis is a leading independent investment banking and advisory firm which provides advice on mergers and acquisitions, financial restructurings, valuation and capital structure, as well as provides public and private debt and equity placement solutions, to companies, institutions and governments. Since its founding in 2007, Moelis has advised on approximately $3.5 trillion of transactions involving some of the world’s largest and most complex mergers and acquisitions and restructurings and recapitalizations. During this period, over $1.0 trillion of Moelis transaction volume was financial sponsor related demonstrating Moelis’ deep private equity relationships. Moelis actively covers approximately 400 middle-market and large-capitalization private equity groups that represent approximately $900 billion of committed capital and $6 trillion in assets under management. Moelis has an extensive global relationship network with approximately 130 Managing Directors, including over 60 former bulge bracket investment banking sector and product heads, and 900 total employees serving clients from 20 geographic locations around the world. In 2019 Moelis was ranked number nine for global completed mergers and acquisitions volume and number one for global completed restructuring volume (source: Refinitiv).
Prior to founding Moelis & Company, Mr. Moelis worked at UBS from 2001 to 2007, where he was most recently President of UBS Investment Bank and previously Joint Global Head of Investment Banking. During his time at UBS, Mr. Moelis led the transformation of the Investment Banking Department from a European focused platform to a leading global bulge bracket investment bank. Before joining UBS, Mr. Moelis was Head of Corporate Finance at Donaldson, Lufkin & Jenrette (“DLJ”), where he worked from 1990 through 2000. Mr. Moelis was integral in DLJ becoming the number one underwriter of high yield bonds in the 1990’s and rapidly growing its merger and acquisition and equity underwriting franchises. Mr. Moelis began his career as an investment banker with Drexel Burnham Lambert in 1981. Mr. Moelis serves on the University of Pennsylvania Board of Trustees, the Wharton Board of Overseers, the Ronald Reagan UCLA Medical Center Board of Advisors and was formerly Chair and Director on the Tourette Association of America Board.
Mr. Spellacy has extensive experience in technology, data and analytics, capital markets and private equity and has worked as an investor, investment banker and consultant. Most recently, Mr. Spellacy was a Senior Managing Director at Accenture plc and Global Industry Leader of Accenture Capital Markets where he was responsible for the industry group’s overall vision, strategy and investment priorities while overseeing Accenture’s Asset Management, Wealth Management and Investment and Trading businesses. Accenture plc is a multinational Fortune Global 500 professional services firm with 2020 revenues of over $44 billion.
Prior to Accenture, Mr. Spellacy was a Partner at Broadhaven Capital, a prominent independent investment bank and private equity investor servicing the financial services and technology sectors. Previously, Mr. Spellacy was a Senior Executive, Management Committee Advisor at Bridgewater Associates (“Bridgewater”), a widely recognized asset manager. Mr. Spellacy led Bridgewater’s $130 billion assets under management transformation program. Prior to Bridgewater, Mr. Spellacy was a Partner and Managing Director at the Boston Consulting Group (“BCG”) where he led the firm’s global Alternative Investments Practice providing strategic business advisory services to global asset managers, sovereign wealth funds and asset owners.
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Mr. Spellacy is recognized as a proven technology and private equity leader with a track record in developing, implementing and investing in innovative technologies in the financial services and other industries, especially data, analytics and artificial intelligence (“AI”). Mr. Spellacy has led complex transformational growth and value creation initiatives achieving results ranging from over $1 billion in revenue increases to over $2 billion in cost improvement.
Taylor Rettig was appointed our Chief Operating Officer and Head of Corporate Development on October 14, 2020. Mr. Rettig brings a diverse set of experiences from his career as a private equity investor, chief executive, general manager, and investment banker. Most recently, Mr. Rettig served as the Chief Executive Officer of Draper James, a lifestyle brand founded by Reese Witherspoon. While at Draper James, Mr. Rettig was also a Partner at JH Partners, a San Francisco based investment firm, a role he served in since 2014, and previously served in various investment professional roles with JH Partners from 2007 to 2013. During his two terms with JH Partners, Mr. Rettig led control and significant minority investments in public and private businesses across the branded consumer and media sectors, achieving successful outcomes of the investments he led, including selling a portfolio company to a special purpose acquisition company (“SPAC”) as part of a three-way merger. From 2013 to 2014, Mr. Rettig served as the Chief Strategy Officer of Alex and Ani, a rapidly growing trend jewelry business, into which Mr. Rettig had previously led a significant growth equity investment on behalf of JH Partners. Mr. Rettig began his career as an investment banker with Morgan Joseph & Co. and served as a key member of the team that helped to reintroduce the SPAC product to the market beginning in 2004, assisting with the underwriting of and advisory work related to business combinations for numerous SPAC offerings.
Mr. Callesano, our Chief Financial Officer, is currently a Managing Director of Moelis and has served as its Principal Accounting Officer since 2016 and its Corporate Controller since 2010. From 2008 to 2010, Mr. Callesano was Senior Managing Director of Financial Reporting and Accounting Policy at NASDAQ OMX where he was responsible for preparing the financial statements filed with the SEC. Previously, Mr. Callesano worked at Merrill Lynch from 2004 to 2008, most recently as Director of Corporate Reporting. Prior to joining Merrill Lynch, Mr. Callesano held various other accounting positions, including as an auditor with Ernst & Young.