Good Works II Acquisition priced its IPO of 20 million units at $10 each.
Units begin trading today on the Nasdaq under GWIIU. Each consists of one share of common stock and one-half of one redeemable warrant; whole warrants exercisable at $11.50. Once the securities comprising the units begin separate trading, stock and warrants are expected to list under GWII and GWIIW.
The new SPAC is targeting high-growth companies that need significant capital because of disruptions related to COVID-19 or other high-quality businesses experiencing high-growth, including those as a result of recent advances in technology and increases in digitization and automaton in business and life in general. Good Works II in its initial S-1 filing committed to donating 750,000 founders shares to non-profits.
I-Bankers Securities is sole book-running manager of the offering. The underwriters have a 45-day option to purchase up to an additional 3 million units to cover over-allotments, if any. The offering is expected to close July 14. Read more.