Bridgetown Holdings Limited Completes $550 Million Initial Public Offering
October 20 2020 - 4:06PM
Bridgetown Holdings Limited (the “Company”) today announced the
closing of its initial public offering of 55,000,000 units. The
offering was priced at $10.00 per unit, resulting in gross proceeds
of $550,000,000.
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 Securities LLC and BTIG, LLC acted 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.
The Company’s units began trading on The Nasdaq Capital Market
(the “Nasdaq”) on October 16, 2020 under the ticker symbol “BTWNU”.
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.
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 has been made only by means of a prospectus. Copies
of the prospectus relating to this offering have been obtainable
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.
Cautionary Note Concerning Forward-Looking Statements
This press release contains statements that constitute
“forward-looking statements,” including with respect to the
Company’s search for an initial business combination.
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 for the initial public 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.
Contact
Karin Wong
+852-9755-6265
Karin.Wong@pcg-group.com
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