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SPAC · Merger completed

Empower Ltd.

Business combination with Holley Intermediate Holdings, Inc.

Empower Ltd. is a blank-check company (SPAC) that raised $250M in its initial public offering on Oct 7, 2020. It completed its business combination with Holley Intermediate Holdings, Inc. on Jul 16, 2021; the combined company is Holley Inc. (HLLY). J.P. Morgan led the IPO, with Jefferies. Ellenoff Grossman & Schole advised the SPAC and Kirkland & Ellis advised the underwriters on the IPO.

Holley Intermediate Holdings designs, markets and manufactures high-performance automotive aftermarket products for car and truck enthusiasts. It is the target of a business combination with Empower, a blank check company formed by MidOcean Partners.

Status
Merger completed
IPO date
Oct 7, 2020
IPO size
$250M
Target
Holley Intermediate Holdings, Inc.
Announced
Mar 12, 2021
Closed
Jul 16, 2021
Combined company
Holley Inc. (HLLY)
IPO underwriters
J.P. Morgan and Jefferies
SPAC counsel (IPO)
Ellenoff Grossman & Schole and Maples and Calder
Underwriters' counsel (IPO)
Kirkland & Ellis

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