Tuesday, 22 Sep 2020

Ex-Trump adviser Cohn, Robbins raise extra $108 million for blank-check company: source

BOSTON (Reuters) – Gary Cohn, the former economic adviser to U.S. President Donald Trump and investor Clifton S. Robbins have upped the funds raised for their blank-check acquisition company, Cohn Robbins Holdings Corp CRHC_u.N, to $828 million, according to a person familiar with the matter.

Cohn Robbins Holdings completed its $720 million initial public offering on Tuesday and has now brought in an additional $108 million after Credit Suisse, the sole book-running manager on the IPO, exercised its so-called greenshoe option late on Wednesday.

The greenshoe option allows companies to issue more shares in an IPO when there is greater demand from participants during the initial offering.

Cohn Robbins Holdings and Credit Suisse declined to comment.

(the story fixes typographical error)

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