RXR Acquisition priced its IPO of 30 million units at $10 per unit — an upsize of 5 million more units than expected.
Units begin trading today on the Nasdaq under RXRA.U. Each consists of one share of the Company’s Class A common stock and one-fifth of one redeemable warrant. Each whole warrant is exercisable to purchase a share of Class A common stock at $11.50. Once the securities comprising the units begin separate trading, stock and warrants are expected to list under RXRA and RXRA.WS, respectively.
Goldman Sachs and BofA Securities are joint book-runners for the offering. The SPAC has granted the underwriters a 45-day option to purchase up to 4.5 million units at the IPO price to cover any over-allotments.
The SPAC in its initial S-1 filing said it will target a business combination that operates at the intersection of real estate and technology (“proptech”). Read more.
