Special purpose acquisition company Waverley Capital Acquisition Corp. 1 (NYSE: WAVCU) went public on the New York Stock Exchange yesterday. The firm is looking to raise US$200.0 million through its initial public offering.
The offering consists of 20.0 million units priced at US$10.00 per unit. Each unit is composed of one common share and one-third of a purchase warrant. Each whole warrant is redeemable for one common share at US$11.50 per share.
The company units trade on the New York-based big board under the symbol “WAVCU”. Once the securities separate, the company shares and warrants will trade under the ticker symbols “WAVC” and “WAVCW”, respectively.
Sponsored · Emerita Resources Corp.
The proposed offering is being managed by Evercore ISI and Morgan Stanley as joint underwriters, which the company granted a 45-day over-allotment option to purchase additional 3.0 million company units.
The offering is expected to close on August 24, 2021, subject to customary closing conditions.
According to its filing statement, the blank-check company intends to focus on acquiring a business focused on media, technology, or entertainment.
Information for this briefing was found via Sedar 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.
