SPAC Bridgetown Holdings goes public

Bridgetown Holdings, a blank check company formed by Theil Capital and Pacific Century, has debuted its IPO after pricing its 55 million shares at $10 per share.

Bridgetown Holdings, a blank check company formed by Theil Capital and Pacific Century, has debuted its IPO after pricing its 55 million shares at $10 per share. The stock began trading October 16, 2020 on the NASDAQ under the ticker symbol “BTWNU.” UBS Investment Bank and BTIG LLC are the lead underwriters.

PRESS RELEASE

Hong Kong, Oct. 16, 2020 (GLOBE NEWSWIRE) — Bridgetown Holdings Limited (the “Company”) announced today the pricing of its initial public offering of 55,000,000 units at a price of $10.00 per unit. The units will be listed on The Nasdaq Capital Market (the “Nasdaq”) and trade under the ticker symbol “BTWNU” beginning on October 16, 2020. Each unit consists of one Class A ordinary share and one-third of one redeemable warrant, with each whole warrant exercisable to purchase one Class A ordinary share at a price of $11.50 per share. After the securities comprising the units begin separate trading, the Class A ordinary shares and warrants are expected to be listed on Nasdaq under the symbols “BTWN” and “BTWNW,” respectively. The offering is expected to close on October 20, 2020.

Bridgetown Holdings Limited is a blank check company incorporated for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. While the Company may pursue a business combination target in any business or industry, the Company intends to focus on a target with operations or prospective operations in the technology, financial services, or media sectors in Southeast Asia. The Company is led by Chief Executive Officer and Chief Financial Officer, Daniel Wong, and Chairman Matt Danzeisen.

UBS Investment Bank and BTIG, LLC are acting as joint-book running managers of the offering. The Company has granted the underwriters a 45-day option to purchase up to an additional 8,250,000 units at the initial public offering price to cover over-allotments, if any.

A registration statement relating to these securities was declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on October 15, 2020. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

The offering is being made only by means of a prospectus. When available, copies of the prospectus relating to this offering may be obtained from UBS Securities LLC, Attn: Prospectus Department, 1285 Avenue of the Americas, New York, NY 10019, or by telephone at (888) 827-7275, or by e-mail at olprospectusrequest@ubs.com; or BTIG, LLC, 65 East 55th Street, New York, NY 10022, or by e-mail at equitycapitalmarkets@btig.com.