Blue World Acquisition priced its initial public offering of 8 million units at $10 per unit, with each unit consisting of one Class A ordinary share, one-half of a warrant and one right. Ten rights entitle the holder to one Class A ordinary share. The exercise price of the warrants is $11.50 per full share.
The units begin trading today on the Nasdaq under the ticker symbol BWAQU. Once the securities begin separate trading, shares, warrants and rights will list under the symbols BWAQ, BWAQW and BWAQR, respectively.
Blue World has said it will pursue an acquisition primarily in the marine leisure, cruise, marine infrastructure and engineering, general hospitality, travel and tourism, marine services, logistics and supply chain, offshore energy solutions and related industry segments.
The offering is expected to close Feb. 2.
Maxim Group is sole book-running manager for the offering. Read more.
