Blue Whale Acquisition I priced its IPO of 20 million units at $10 per unit.
The units begin trading today on the Nasdaq under BWCAU.
The SPAC is sponsored by Mubadala Capital, the asset management subsidiary of Mubadala Investment Company PJSC, a global sovereign investor headquartered in Abu Dhabi, with more than $243 billion AUM.
Blue Whale will target one or more businesses in the media, entertainment and technology industries.
Each unit consists of one share and one-fourth of a warrant to purchase one Class A ordinary share, for $10. In addition, MIC Capital Partners Parallel Cayman, the direct parent of the sponsor, has agreed to enter into a forward purchase agreement of up to $50 million forward-purchase units in a private placement. The parent company has also committed to purchase 2 million units at the IPO price.
When the securities begin separate trading, shares and warrants will list under BWC and BWCAW.
Goldman Sachs and BofA Securities are joint book-running managers in the offering. The underwriters have an over-allotment option to purchase up to 3 million additional units. Read more.
