Ex-Blue Origin President-Led SPAC C5 Acquisition Prices US$250 Million IPO
Blank check company C5 Acquisition Corporation (NYSE: CXAC.U) is looking to raise US$250 million for its initial public offering. The company went public on Friday on the New York Stock Exchange and is expected to close on January 11, 2022.
The offering consists of 25.0 million company units selling at US$10.00 per unit. Each unit consists of one Class A share and one-half of a purchase warrant. Each whole warrant is exercisable to purchase one whole Class A share at US$11.50 per share. The shares and the warrants will be trading on the New York-based big board under symbols “CXAC” and “CXAC.WS”, respectively.
The underwriters were granted a 45-day option to purchase an additional 3.75 million units at the same IPO price. Cantor Fitzgerald & Co. and Moelis & Company act as joint bookrunners for the proposed offering.
The SPAC is led by former Blue Origin president Robert Meyerson as CEO and Jacobs Engineering CEO Steve Demetriou as the non-executive chairman of the board. The blank check firm is planning to focus its search for business combinations in three key sectors: space, cybersecurity, and energy transition.
Information for this briefing was found via Edgar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
