Learn CW Investment Corporation Announces Pricing of $200 Million Initial Public Offering

Rhea-AI Summary

Learn CW Investment Corporation (NYSE: LCW) announced the pricing of its initial public offering (IPO) of 20,000,000 units at $10.00 per unit, expected to begin trading on October 8, 2021. Each unit consists of one Class A ordinary share and half a redeemable warrant, with whole warrants exercisable at $11.50 per share. An option for underwriters to purchase an additional 3,000,000 units is also available. The offering is set to close around October 13, 2021, pending customary conditions.

Positive

• IPO of 20,000,000 units priced at $10.00 each.
• Potential raise of up to $230 million if the over-allotment option is exercised.

Negative

• Dilution risk for current and future shareholders.
• Market reactions uncertain post IPO launch.

LOS ANGELES--(BUSINESS WIRE)-- Learn CW Investment Corporation (NYSE: LCW) (“Learn CW” or the “Company”) announced today the pricing of its initial public offering (“IPO”) of 20,000,000 units at price of $10.00 per unit. The units are expected to be listed on The New York Stock Exchange (“NYSE”) and trade under the ticker symbol “LCW.U” beginning on October 8, 2021. Each unit issued in the IPO consists of one Class A ordinary share of the Company and one-half of one redeemable warrant, with each whole warrant exercisable to purchase one Class A ordinary share of the Company at a price of $11.50 per share. After the securities comprising the units begin separate trading, the Company’s Class A ordinary shares and warrants are expected to be listed on the NYSE under the symbols “LCW,” and “LCW.WS,” respectively.

The Company has granted the underwriters a 45-day option to purchase up to an additional 3,000,000 units at the IPO price to cover over-allotments, if any.

The offering is expected to close on or about October 13, 2021, subject to customary closing conditions.

Evercore Group ISI is acting 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 is being 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 subject to numerous conditions, risks and changes in circumstances, 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, as amended from time to time, and prospectus for the offering filed with the SEC. Such forward-looking statements include the successful consummation of the Company’s initial public offering or exercise of the underwriters’ over-allotment option. 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/20211008005394/en/

Media Requests:

Charlotte Jerbic

Info@LearnCWInvestmentCorp.com

+1-424-324-2990

Source: Learn CW Investment Corporation

FAQ

What is the price of Learn CW Investment Corporation's IPO?

The IPO is priced at $10.00 per unit.

When will Learn CW Investment Corporation start trading on the NYSE?

Trading is expected to begin on October 8, 2021.

What does each unit in the IPO consist of?

Each unit consists of one Class A ordinary share and half a redeemable warrant.

What is the exercise price for the warrants in the IPO?

The warrants are exercisable at $11.50 per share.

When is the expected closing date for the IPO?

The offering is expected to close on or about October 13, 2021.