Waverley Capital Acquisition 1 in an amended S-1 filing said it will offer 20 million units at $10 each, down from the 30 million registered with the SEC in March.
A unit now consists of one Class A ordinary share and one-third of one redeemable warrant; whole warrants exercisable at $11.50.
The new SPAC said in the filing it will work to acquire a business focused on media, technology or entertainment.
Waverley is led by Chairman Edgar Bronfman Jr., co-founder, chairman and general partner of Waverley. He is also senior advisor and special limited partner of Luminari Capital (the predecessor fund to Waverley) and managing partner at Accretive. Prior to Waverley, Bronfman was the Chairman and CEO of Warner Music Group.
The SPAC intends to apply for a NYSE listing under WAVCU. Read more.
