Special purpose acquisition company Williams Rowland Acquisition Corp. (NYSE: WRACU) went public on the New York Stock Exchange today. The firm, led by co-CEOs, former professional ice hockey player David “Tiger” Williams and Mode Global Holdings founder Jonathan Rowland, 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-half 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 exchange under the symbol “WRACU”. Once the securities separate, the company shares and warrants will trade under the ticker symbols “WRAC” and “WRACW”, respectively.
The proposed offering is being managed by Oppenheimer & Co. as the sole underwriter, 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 July 29, 2021, subject to customary closing conditions.
The newly-organized blank check company plans to target firms involved in the fintech space.
Information for this briefing was found via Sedar and Williams Rowland Acquisition. 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.