Leonardo DiCaprio backed Aspiration Partners to go public via $2 billion SPAC deal

Industry:    2021-08-19

Fintech startup Aspiration Partners Inc, backed by actors Robert Downey Jr. and Leonardo DiCaprio, said on Wednesday it will go public through a merger with SPAC InterPrivate III Financial Partners Inc in a deal that values it at $2.3 billion.

On closing of the deal, the merged company will be named Aspiration Inc and is expected to be listed on the New York Stock Exchange under ticker “ASP”.

California-based Aspiration Partners provides banking services, credit cards, and investment products to customers.

Special purpose acquisition companies, or SPACs, use money raised through an initial public offering to take a private company public.

Citigroup Global Markets Inc was the financial adviser for Aspiration, while Morgan Stanley & Co LLC and PJT Partners LP were InterPrivate III’s financial advisers.

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