Better World Acquisition raises $110m for IPO

Better World Acquisition Corp, a blank check company formed by N*GEN Partners, has gone public after pricing its 11 million shares at $10 per share.

Better World Acquisition Corp, a blank check company formed by N*GEN Partners, has gone public after pricing its 11 million shares at $10 per share. The stock began trading November 13, 2020 on the NASDAQ under the ticker symbol “BWACU.” EarlyBirdCapital Inc and I-Bankers Securities Inc are the underwriters.

PRESS RELEASE

NEW YORK–(BUSINESS WIRE)–Better World Acquisition Corp. announced today that it priced its upsized initial public offering of 11,000,000 units, at $10.00 per unit. The units will be listed on the Nasdaq Capital Market and will begin trading tomorrow, Friday, November 13, 2020, under the ticker symbol “BWACU.” Each unit consists of one share of the Company’s common stock and one redeemable warrant, each warrant entitling the holder thereof to purchase one share of common stock at a price of $11.50 per share. Once the securities comprising the units begin separate trading, the shares of common stock and warrants are expected to be listed on Nasdaq under the symbols “BWAC” and “BWACW,” respectively.

The offering is expected to close on November 17, 2020, subject to customary closing conditions.

The Company is a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. While the Company may pursue an acquisition in any business industry or sector, it intends to concentrate its efforts on identifying businesses in the healthy living industries that benefit from strong Environmental, Social and Governance (“ESG”) profiles. The Company is led by Chief Executive Officer Rosemary L. Ripley and Chief Financial Officer Peter S.H. Grubstein.

EarlyBirdCapital, Inc. is acting as sole book-running manager of the offering and I-Bankers Securities, Inc. is acting as co-manager of the offering. The Company has granted the underwriters a 45-day option to purchase up to an additional 1,650,000 units at the initial public offering price to cover over-allotments, if any.