Learn CW Investment Corporation Announces Closing of Initial Public Offering and Full Exercise of the Underwriter’s Over-Allotment Option

Rhea-AI Summary

Learn CW Investment Corporation (NYSE: LCW) successfully closed its initial public offering of 23 million units at $10.00 per unit, raising gross proceeds of $230 million. This includes 3 million units from the underwriter's over-allotment option. The units began trading on October 8, 2021, on the NYSE under the ticker LCW.U. Each unit contains one Class A ordinary share and a half redeemable warrant, with the full warrant priced at $11.50. The registration statement for the offering became effective on October 7, 2021.

Positive

• Raised $230 million from the IPO, enhancing liquidity and growth potential.
• Successful listing on NYSE indicates strong investor interest.

Negative

• Potential dilution for existing shareholders due to the issuance of new units and warrants.

LOS ANGELES--(BUSINESS WIRE)-- Learn CW Investment Corporation (NYSE: LCW) (“Learn CW” or the “Company”) today announced the closing of its initial public offering of 23,000,000 units at a price of $10.00 per unit, which includes 3,000,000 units issued pursuant to the exercise of the underwriter’s over-allotment option, for aggregate gross proceeds to the Company of $230,000,000. The Company’s units began trading on the New York Stock Exchange (“NYSE”) under the ticker symbol “LCW.U” on October 8, 2021. Each unit issued in the offering consists of one Class A ordinary share and one-half of one redeemable warrant, with each whole warrant exercisable to purchase one Class A ordinary share at a price of $11.50 per share. Once the securities comprising the units begin separate trading, the ordinary shares and warrants are expected to be listed on NYSE under the symbols “LCW,” and “LCW.WS,” respectively.

Evercore ISI acted as the sole book-running manager in the offering.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission (“SEC”) and became effective on October 7, 2021. The offering was made only by means of a prospectus, copies of which may be obtained, when available, by contacting Evercore Group L.L.C., 55 East 52nd Street, Ste 35, New York, New York 10055; email: ecm.prospectus@evercore.com. Copies of the registration statement can be accessed through the SEC’s website at 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 Learn CW Investment Corporation

Learn CW Investment Corporation is a newly incorporated blank check company formed as a Cayman Islands exempted company for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses.

https://www.learncwinvestmentcorp.com/

Forward-Looking Statements

This press release includes forward-looking statements that involve risks and uncertainties. Forward-looking statements are statements that are not historical facts. Such forward-looking statements are subject to risks and uncertainties, including those set forth in the risk factors section of the prospectus used in connection with the Company’s initial public offering, which could cause actual results to differ from the forward- looking statements. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211013005940/en/

Media Requests:

Charlotte Jerbic

Info@LearnCWInvestmentCorp.com

+1-424-324-2990

Source: Learn CW Investment Corporation

FAQ

What were the details of the Learn CW Investment Corporation IPO on October 8, 2021?

Learn CW Investment Corporation's IPO consisted of 23 million units priced at $10.00 each, raising $230 million, including an over-allotment of 3 million units.

What is the ticker symbol for Learn CW Investment Corporation?

The ticker symbol for Learn CW Investment Corporation is LCW.U.

How will the warrants from Learn CW Investment Corporation's IPO trade?

The warrants are expected to trade under the symbol LCW.WS once the units begin separate trading.

What was the purpose of Learn CW Investment Corporation's IPO?

The IPO aims to provide capital for potential mergers or acquisitions as a blank check company.

Who managed the IPO for Learn CW Investment Corporation?

Evercore ISI acted as the sole book-running manager for the IPO.