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

Rhea-AI Summary

RXR Acquisition Corp. has announced the pricing of its upsized initial public offering (IPO) of 30 million units at $10.00 each. These units will trade on the Nasdaq under the symbol RXRA.U, starting March 4, 2021. Each unit includes one share of Class A common stock and one-fifth of a redeemable warrant, with each whole warrant exercisable at $11.50. The underwriters have a 45-day option to purchase an additional 4.5 million units. RXR aims to merge with businesses at the intersection of real estate and technology, known as PropTech.

Positive

• Successful pricing of upsized IPO for 30 million units at $10.00 each.
• Opportunity for additional 4.5 million units sale to cover over-allotments.
• Focus on PropTech sector, enhancing potential market growth.

Negative

• No guarantee of successful completion of the offering as planned.
• Forward-looking statements subject to numerous uncertainties and risks.

Uniondale, NY, March 04, 2021 (GLOBE NEWSWIRE) -- RXR Acquisition Corp. (the “Company”) announced today the pricing of its upsized initial public offering of 30,000,000 units at $10.00 per unit.  The units will be listed on the Nasdaq Capital Market (“Nasdaq”) and trade under the ticker symbol “RXRA.U” beginning 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.

A registration statement (including a preliminary prospectus) relating to the securities has been 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 proposed initial public offering and the anticipated use of the net proceeds thereof.  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 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.

FAQ

What is the price of RXR Acquisition Corp.'s initial public offering?

The initial public offering is priced at $10.00 per unit.

When will RXR Acquisition Corp. start trading on Nasdaq?

RXR Acquisition Corp. units will begin trading on Nasdaq under the symbol RXRA.U on March 4, 2021.

What does each unit of RXR Acquisition Corp. 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 of the warrants for RXR Acquisition Corp.?

The warrants can be exercised to purchase one share of Class A common stock at $11.50.

What industries is RXR Acquisition Corp. focused on for business combinations?

RXR Acquisition Corp. targets businesses in the PropTech sector, related to real estate and technology.