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Jaws Acquisition Corp. Prices Upsized 60M Unit IPO @$10/Unit

Jaws Acquisition Corp. (NYSE:JWS), a special purpose acquisition company formed for the purpose of entering into a combination with one or more businesses, announced the pricing of its initial public offering of 60,000,000 units at a price of $10.00 per unit.

Benzinga · 05/14/2020 09:48

Jaws Acquisition Corp. (NYSE:JWS), a special purpose acquisition company formed for the purpose of entering into a combination with one or more businesses, announced the pricing of its initial public offering of 60,000,000 units at a price of $10.00 per unit. The units will be listed on the New York Stock Exchange and trade under the ticker symbol "JWS.U" beginning May 14, 2020. Each unit consists of one Class A ordinary share of the Company and one-third of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one Class A ordinary share of the Company at a price of $11.50 per share. Once the securities comprising the units begin separate trading, the Class A ordinary shares and warrants are expected to be listed on the New York Stock Exchange under the symbols "JWS" and "JWS WS," respectively.

Jaws Acquisition Corp., led by Chairman Barry S. Sternlicht and Chief Executive Officer Joseph L. Dowling, will not be limited to a particular industry or geographic region in its identification and acquisition of a target company, except that it does not intend to pursue real estate, lodging or energy infrastructure assets.

Credit Suisse Securities (USA) LLC is serving as lead book-running manager for this offering. Morgan Stanley & Co. LLC and Citigroup Global Markets Inc. are serving as book-running managers for the offering. The Company has granted the underwriters a 45-day option to purchase up to an additional 9,000,000 units at the initial public offering price to cover over-allotments, if any.

The offering is being made only by means of a prospectus. When available, copies of the prospectus may be obtained from: Credit Suisse, Attn: Prospectus Department, Eleven Madison Avenue, 3rd Floor, New York, New York 10010, Telephone: 1-800-221-1037, Email: usa.prospectus@credit-suisse.com; Morgan Stanley & Co. LLC, Attn: Prospectus Department, 180 Varick Street, Second Floor, New York, New York 10014, email: prospectus@morganstanley.com; or Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, Telephone: 1-800-831-9146.

Registration statements relating to the securities became effective on May 13, 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 expected to close on May 18, 2020, subject to customary closing conditions.