Space-Focused SPAC Completes IPO to Link with Ventures Focusing on Space
Washington DC, United States, January 17, 2022 / TRAVELINDEX / A blank-check company that has former Blue Origin President Rob Meyerson as its CEO has completed a $287.5 million initial public offering, furthering its plans to link up with ventures focusing on space, cybersecurity and energy innovation.
C5 Acquisition Corporation, a special purpose acquisition company (SPAC), announced the closing of its initial public offering of 28,750,000 units at a price of $10.00 per unit, including 3,750,000 units issued pursuant to the exercise by the underwriters of their over-allotment option in full, on January 11, 2022. The units were listed on the New York Stock Exchange and began trading under the ticker symbol “CXAC.U” on January 7, 2022. Each unit consists of one share of Class A common stock of the Company and one-half of one redeemable public warrant. Each whole public warrant entitles the holder thereof to purchase one share of Class A common stock of the Company at a price of $11.50 per share. Once the securities comprising the units begin separate trading, the shares of Class A common stock and public warrants are expected to be listed on the New York Stock Exchange under the symbols “CXAC” and “CXAC WS,” respectively.
The Company is led by CEO Robert Meyerson, former president of Blue Origin. Steve Demetriou, Chair and CEO of Jacobs Engineering (NYSE:J), will be the company’s Non-Executive Chair of the Board of Directors. The Company is a newly organized blank check company incorporated as a Delaware corporation for the purpose of effecting a merger, consolidation, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses or companies. While the Company may pursue an initial business combination with any company in any industry, the Company intends to focus on businesses at the leading edge of national security innovation in three key sectors: Space, Cybersecurity and Energy Transition.
Cantor Fitzgerald & Co. and Moelis & Company LLC served as the joint book-running managers for this offering. The offering was made only by means of a prospectus, copies of which may be obtained by contacting Cantor Fitzgerald & Co., Attention Capital Markets, c/o Cantor Fitzgerald & Co., 499 Park Avenue, 5th Floor, New York, NY 10022.
The registration statement relating to the securities became effective on January 6, 2022. 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.
First published at TravelCommunication.net