Blue World Acquisition Corporation Announces Closing of $92 Million Initial Public Offering
02 Febrero 2022 - 12:19PM
Blue World Acquisition Corporation (the “Company”), a newly
organized blank check company incorporated as a Cayman Islands
exempted company and led by Chairman and Chief Executive Officer,
Liang (Simon) Shi, today announced the closing of its previously
announced initial public offering of 9,200,000 units at an offering
price of $10.00 per unit, which includes 1,200,000 units issued
pursuant to the full exercise of the underwriter’s over-allotment
option, for aggregate gross proceeds to the Company of $92,000,000.
Each unit consists of one Class A ordinary share, one-half of one
redeemable warrant, and one right. Each whole warrant entitles the
holder thereof to purchase one Class A ordinary share, and each ten
rights entitle the holder thereof to receive one Class A ordinary
share upon consummation of an initial business combination. The
exercise price of the warrants is $11.50 per full share. The units
began trading on the Nasdaq Global Market (“Nasdaq”) under the
ticker symbol “BWAQU” on January 31, 2022. Once the securities
comprising the units begin separate trading, the Class A ordinary
shares, warrants and rights are expected to be traded on Nasdaq
under the symbols “BWAQ,” “BWAQW,” and “BWAQR,” respectively. No
fractional warrants will be issued upon separation of the units and
only whole warrants will be traded.
Maxim Group LLC acted as the sole book-running
manager for the offering.
A registration statement on Form S-1 (File No.
333-261585) relating to the securities sold in the initial public
offering was declared effective by the U.S. Securities and Exchange
Commission (the “SEC”) on January 31, 2022. The offering has been
made only by means of a prospectus, copies of which may be obtained
from Maxim Group LLC, 300 Park Avenue, 16th Floor, New York,
NY 10022, or by accessing the SEC’s website, www.sec.gov.
This press release shall not constitute an offer
to sell or a 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.
About Blue World Acquisition
Corporation
Blue World Acquisition Corporation is a blank
check company, also commonly referred to as a special purpose
acquisition company, or SPAC, formed for the purpose of effecting a
merger, share exchange, asset acquisition, share purchase,
reorganization or similar business combination with one or more
businesses or entities.
Forward-Looking Statements
This press release contains statements that
constitute “forward-looking statements,” including with respect to
the Company’s initial public offering (“IPO”) and search for an
initial business combination. No assurance can be given that the
net proceeds of the offering will be used as indicated.
Forward-looking statements are subject to numerous conditions, many
of which are beyond the control of Blue World Acquisition
Corporation, including those set forth in the Risk Factors section
of Blue World Acquisition Corporation’s registration statement and
prospectus for the IPO filed with the SEC. Copies are available on
the SEC's website, www.sec.gov. Blue World Acquisition Corporation
undertakes no obligation to update these statements for revisions
or changes after the date of this release, except as required by
law.
Contact Information: Liang (Simon)
ShiChairman and Chief Executive OfficerEmail:
liang.shi@zeninpartners.comTel: (646) 998-9582
Investor Relations:Jingwen Zhu AssociateEmail:
jingwenzhu@zeninpartners.comTel: 86 13671834329
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