Jaws Mustang Acquisition Corporation Announces Pricing of Upsized $900 Million Initial Public Offering

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Jaws Mustang Acquisition Corporation announced the pricing of its upsized IPO of 90 million units at $10.00 each, totaling $900 million. Trading under the symbol 'JWSM.U' commences on February 2, 2021. Each unit includes one Class A ordinary share and one-fourth of a redeemable warrant, allowing the purchase of an additional share at $11.50. The offering is led by Credit Suisse, with options for underwriters to purchase an additional 11.25 million units. The deal is set to close on February 4, 2021, subject to standard conditions.

Positive

• Successful pricing of $900 million IPO enhances capital for acquisitions.
• Involvement of reputable underwriters boosts market confidence.

Negative

• None.

MIAMI BEACH, Fla., Feb. 2, 2021 /PRNewswire/ -- Jaws Mustang Acquisition Corporation (the "Company"), a special purpose acquisition company formed for the purpose of entering into a combination with one or more businesses, today announced the pricing of its upsized initial public offering of 90,000,000 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 "JWSM.U" beginning February 2, 2021. Each unit consists of one Class A ordinary share of the Company and one-fourth 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 "JWSM" and "JWSM WS," respectively.

Led by Chairman Barry S. Sternlicht and Chief Executive Officer Andrew Klaber, Jaws Mustang Acquisition Corporation expects to focus on leading companies across a variety of industries with attractive growth-oriented characteristics and strong underlying demand drivers and with all or a substantial portion of activities in North America and/or Europe.

Credit Suisse Securities (USA) LLC is serving as lead book-running manager for this offering. BofA Securities and Goldman Sachs & Co. LLC are serving as book-running managers for the offering. The Company has granted the underwriter a 45-day option to purchase up to an additional 11,250,000 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 Securities (USA) LLC, Attn: Prospectus Department, 6933 Louis Stephens Drive, Morrisville, NC 27560, telephone: 1-800-221-1037, email: usa.prospectus@credit-suisse.com; BofA Securities, Attn: Prospectus Department, 200 North College Street, 3rd Floor, Charlotte, NC 28255, telephone: 1-800-299-1322, email: dg.prospectus_requests@bofa.com; Goldman Sachs & Co. LLC, Attn: Prospectus Department, 200 West Street, New York, NY 10282, telephone: 1-866-471-2526, email: prospectus-ny@ny.email.gs.com.

Registration statements relating to the securities have become effective. 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 February 4, 2021, subject to customary closing conditions.

Cautionary Note Concerning Forward-Looking Statements

This press release contains statements that constitute "forward-looking statements," including with respect to the proposed initial public offering and the anticipated use of the net proceeds. 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 Securities and Exchange Commission ("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.

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SOURCE Jaws Mustang Acquisition Corp.

FAQ

What is the IPO price for Jaws Mustang Acquisition Corporation?

The IPO price is $10.00 per unit.

When does trading for JWSM.U begin?

Trading for JWSM.U begins on February 2, 2021.

What does each unit in the IPO consist of?

Each unit comprises one Class A ordinary share and one-fourth of a redeemable warrant.

What is the expected closing date for the IPO?

The expected closing date for the IPO is February 4, 2021.

Who are the underwriters for the Jaws Mustang IPO?

Credit Suisse, BofA Securities, and Goldman Sachs are the lead underwriters.