RXR Acquisition Corp. Announces Closing of Upsized $300 Million Initial Public Offering

Rhea-AI Summary

On March 8, 2021, RXR Acquisition Corp. announced the successful closing of its initial public offering (IPO), raising $300 million by selling 30 million units at $10.00 each. The units began trading on Nasdaq under the ticker symbol RXRA.U on March 4, 2021. Each unit consists of one share of Class A common stock and one-fifth of a redeemable warrant, with the whole warrant exercisable at $11.50 per share. The IPO's underwriters have a 45-day option to purchase up to 4.5 million additional units.

Positive

• Successfully raised $300 million in IPO.
• Trading commenced on Nasdaq under RXRA.U, signaling investor interest.

Negative

• None.

Uniondale, NY, March 08, 2021 (GLOBE NEWSWIRE) -- RXR Acquisition Corp. (the “Company”) today announced the closing of its initial public offering (“IPO”) in which it raised gross proceeds of $300 million.

The Company sold 30 million units at $10.00 per unit in the IPO. The Company’s units began trading on The Nasdaq Capital Market (“Nasdaq”) under the ticker symbol “RXRA.U” on March 4, 2021. Each unit consists of one share of the Company’s Class A common stock and one-fifth of one redeemable warrant of the Company. Each whole warrant is exercisable to purchase one share of the Company’s Class A common stock at a price of $11.50 per share. Only whole warrants are exercisable. Once the securities comprising the units begin separate trading, the Class A common stock and warrants are expected to be listed on Nasdaq under the symbols “RXRA” and “RXRA.WS,” respectively.

Goldman Sachs & Co. LLC and BofA Securities, Inc. are the joint-book running managers for the offering. The Company has granted the underwriters a 45-day option to purchase up to 4,500,000 additional units at the initial public offering price to cover over-allotments, if any.

The public offering is being made only by means of a prospectus. When available, copies of the prospectus relating to the offering may be obtained by contacting Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, New York 10282, or by telephone at (866) 471-2526, or by email at prospectus-ny@ny.email.gs.com; or BofA Securities, Attention: Prospectus Department, NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte NC 28255-0001, by telephone at 1-800-294-1322 or by email at dg.prospectus_requests@bofa.com.

Registration statements relating to the securities were declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on March 3, 2021. 

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.

About RXR Acquisition Corp.

RXR Acquisition Corp. is a special purpose acquisition company formed by RXR Realty LLC, for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. While the Company may pursue an initial business combination target in any business or industry, it expects to focus its search for a target business combination that operates at the intersection of real estate and technology, also known as “PropTech,” including immediately adjacent ecosystems to real estate such as logistics, modern mobility, financial services and technologies that address problems or inefficiencies associated with urbanization, also known as “Urban Tech.”

Cautionary Note Concerning Forward-Looking Statements

This press release contains statements that constitute “forward-looking statements,” including with respect to the anticipated use of the net proceeds thereof. No assurance can be given 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 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.

Contact Information

Michael Maturo
Chief Financial Officer
(516) 506-6797

FAQ

What was the amount raised in RXR Acquisition Corp.'s IPO?

RXR Acquisition Corp. raised $300 million in its initial public offering.

When did RXR Acquisition Corp. start trading on Nasdaq?

RXR Acquisition Corp. began trading on Nasdaq under the ticker symbol RXRA.U on March 4, 2021.

What does each unit in RXR Acquisition Corp.'s IPO consist of?

Each unit consists of one share of Class A common stock and one-fifth of a redeemable warrant.

What is the exercise price for the warrants of RXR Acquisition Corp.?

The warrants are exercisable at a price of $11.50 per share.

How many additional units can the underwriters purchase?

The underwriters have a 45-day option to purchase up to 4.5 million additional units.