NEW YORK and ABU DHABI, UAE, Aug. 6,
2021 /PRNewswire/ -- Blue Whale Acquisition Corp I (Nasdaq:
BWCAU) (the "Company") announced today the closing of its initial
public offering of 20,000,000 units, at a price to the public of
$10.00 per unit, resulting in gross
proceeds of $200,000,000.
The Company's units began trading on The Nasdaq Capital Market
("Nasdaq") on August 4, 2021, under
the ticker symbol "BWCAU." Each unit consists of one Class A
ordinary share, and one-fourth of one warrant to purchase one Class
A ordinary share, for $10.00 per
unit. In addition, MIC Capital Partners (Public) Parallel Cayman,
LP, the direct parent of the sponsor, entered into a forward
purchase agreement that provides for the purchase, at its
discretion, of up to $50,000,000
forward purchase units, each consisting of one Class A ordinary
share, or a forward purchase share, and one-fourth of one warrant
to purchase one Class A ordinary share, or a forward purchase
warrant, for $10.00 per unit, in a
private placement to close substantially concurrently with the
closing of the initial business combination. MIC Capital Partners
(Public) Parallel Cayman, LP also purchased 2,000,000 units of the
20,000,000 public shares sold in the offering at the offering price
of $10.00 per unit. When the
securities comprising the units begin separate trading, the Company
expects that the Class A ordinary shares and warrants will be
listed on Nasdaq under the symbols "BWC" and "BWCAW",
respectively.
The Company is sponsored by Mubadala Capital, the asset
management subsidiary of Mubadala Investment Company PJSC
("Mubadala"), a leading global sovereign investor headquartered in
Abu Dhabi, with more than
$243 billion of assets under
management. The Company was formed for the purpose of effecting a
merger, share exchange, asset acquisition, share purchase,
reorganization, or similar business combination with one or more
businesses in the media, entertainment and technology industries.
The Company is led by Maxime
Franzetti, Head of Public Equities and SPACs at Mubadala
Capital, Adib Mattar, Head of
Private Equity at Mubadala Capital and Russ
Pillar, Founder and Executive Chairman of Reigning Champs,
the world's largest NCAA-compliant path-to-college company for
student-athletes, and Senior Advisor to Mubadala Capital.
A registration statement relating to these securities was
declared effective by the Securities and Exchange Commission
("SEC") on August 3, 2021. The public
offering is being made only by means of a prospectus. Copies of the
prospectus relating to the offering may be obtained for free from
the U.S. Securities and Exchange Commission website
(http://www.sec.gov); Goldman Sachs & Co. LLC, Attention:
Prospectus Department, 200 West Street, New York, New York 10282-2198, telephone +1
866 471 2526, facsimile: +1 212 902 9316, or email:
prospectus-ny@ny.email.gs.com; and BofA Securities, NC1-004-03-43,
200 North College Street, 3rd Floor, Charlotte, NC 28255-0001, Attention:
Prospectus Department or email:
dg.prospectus_requests@bofa.com.
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.
Forward-looking statements
This press release contains statements that constitute
"forward-looking statements," including with respect to the initial
public offering and the anticipated use of the net proceeds
thereof. No assurance can be given that the offering discussed
above will be completed on the terms described, or at all, or 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 the Company, including those set
forth in the Risk Factors section of the Company's registration
statement and preliminary prospectus for the Company's offering
filed with the SEC. Copies are available on the SEC's website,
www.sec.gov. The Company undertakes no obligation to update these
statements for revisions or changes after the date of this release,
except as required by law.
About Blue Whale Acquisition Corp I
Blue Whale Acquisition Corp I is a newly organized blank check
company formed by an affiliate of Mubadala Capital. Mubadala
Capital is the asset management subsidiary of Mubadala, a leading
global sovereign investor headquartered in Abu Dhabi. In addition to managing its own
balance sheet investments, Mubadala Capital manages c. $9 billion in third-party capital vehicles on
behalf of institutional investors in each of its businesses,
including three private equity funds, two early stage venture
funds, a public fund and a fund in Brazil focused on special situations. Mubadala
Capital is a differentiated and value-added investor that leverages
both the Mubadala network and the relationships embedded within the
investment team to source proprietary investment opportunities on a
global basis. Mubadala Capital invests across a range of asset
classes including private equity, public equity and venture
capital. Each business employs a fundamentals-driven investment
strategy, prioritizing capital preservation and long-term value
creation.
Mubadala Capital has a long track record of successfully
identifying category leaders suitable for investment, especially in
media, entertainment, and premium content and services sectors.
Representative transactions the firm has consummated in the recent
past include EMI Music Publishing (acquired in 2012 and
successfully exited in 2018, making Mubadala Capital one of the few
institutional investors to successfully structure, purchase and
exit a major music asset in the last decade), Endeavor (acquired in
2014), Reigning Champs (acquired in 2014), Imagine Entertainment
(acquired in 2016), YES Network (acquired in 2019) and Looping
Group (acquired in 2019). In total, these transactions and others
in the media, entertainment and premium content and services
sectors represent more than $1
billion of capital deployed.
Contacts
Media contact:
Salam Kitmitto
sakitmitto@mubadala.ae
+971 50 276 9286
Mubadala Capital
Katie Kuga Wenner
kwenner@mubadalacapital.ae
View original content to download
multimedia:https://www.prnewswire.com/news-releases/blue-whale-acquisition-corp-i-announces-closing-of-200-000-000-initial-public-offering-301350436.html
SOURCE Mubadala Capital