World Quantum Growth Acquisition Corp. Announces Pricing of $200,000,000 Initial Public Offering

Rhea-AI Summary

World Quantum Growth Acquisition Corp. has announced the pricing of its IPO, offering 20 million units at $10.00 each. Sponsored by World Quantum Growth Acquisition LLC, the IPO will list on the NYSE under the symbol 'WQGA.U' starting August 11, 2021, with trading of shares and warrants planned to follow. Credit Suisse is the sole book-running manager for this offering. The registration statement was approved by the SEC on August 10, 2021, with closing expected on August 13, 2021. A 45-day option for underwriters to purchase an additional 3 million units is also available.

Positive

• Pricing of 20 million units at $10.00 each indicates strong investor interest.
• Focused on attractive sectors like financial services and technology.

Negative

• Risks associated with forward-looking statements suggest potential for outcomes differing from expectations.
• No guarantees on the successful completion of the offering as outlined.

World Quantum Growth Acquisition Corp. (the “Company”), a special purpose acquisition company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses, today announced the pricing of its initial public offering of 20,000,000 units at a price of $10.00 per unit. The Company is sponsored by World Quantum Growth Acquisition LLC, a Cayman Islands limited liability company that was organized by, and to which the initial capital was contributed by, Xavier Rolet KBE, Serge Harry, Antoine Shagoury and Michel Brogard, among others. Although the Company will not be limited to a particular industry or geographic region in its identification and acquisition of a target company, the Company believes the financial services and the financial technology sectors in the U.S. and EMEA as well as relevant technology firms supporting these sectors present particularly attractive investment opportunities.

The units are expected to be listed on the New York Stock Exchange (the “NYSE”) and trade under the ticker symbol “WQGA.U” beginning August 11, 2021. Each unit consists of one Class A ordinary share and one-half of one redeemable warrant. Each whole warrant may be exercised for one Class A ordinary share 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 ordinary shares and warrants are expected to be listed on the NYSE under the symbols “WQGA” and “WQGA WS,” respectively.

Credit Suisse Securities (USA) LLC is acting as sole book-running manager for the offering. The offering is expected to close on August 13, 2021, subject to customary closing conditions. The Company has granted the underwriter a 45-day option to purchase up to an additional 3,000,000 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 related to the offering may be obtained for free by visiting EDGAR on the SEC's website at www.sec.gov or from Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, 6933 Louis Stephens Drive, Morrisville, NC 27560, Telephone: 1-800-221-1037, email: usa.prospectus@credit-suisse.com.

The registration statement relating to the securities of the Company was declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on August 10, 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.

Forward-Looking Statements

This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the initial public offering of the Company and its management. The statements involve risks and uncertainty. Words such as "anticipate," "estimate," "expect," "intend," "plan," and "project" and other similar words and expressions are intended to signify forward-looking statements. Forward-looking statements are not guarantees of future results and conditions but rather are subject to various risks and uncertainties. Such statements are based on the Company's current expectations and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Investors are cautioned that there can be no assurance actual results or business conditions will not differ materially from those projected or suggested in such forward-looking statements as a result of various risks and uncertainties. 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. Investors should refer to the risks detailed from time to time in the reports the Company files or will file with the SEC for additional factors that could cause actual results to differ materially from those stated or implied by such forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, unless required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210811005446/en/

FAQ

When will World Quantum Growth Acquisition Corp. IPO units start trading?

Units are expected to trade on the NYSE under the symbol 'WQGA.U' starting August 11, 2021.

What is the price per unit for the World Quantum Growth Acquisition Corp. IPO?

The price per unit is set at $10.00.

Who is the book-running manager for the World Quantum IPO?

Credit Suisse Securities (USA) LLC is the sole book-running manager.

What are the potential risks associated with the IPO of WQGA.U?

The IPO involves risks and uncertainties that could affect actual results compared to expectations.

What is the closing date for the World Quantum Growth Acquisition Corp. IPO?

The offering is expected to close on August 13, 2021, subject to customary closing conditions.