Williams Rowland Acquisition Corp. Announces Pricing of $200 Million Initial Public Offering

Rhea-AI Summary

Williams Rowland Acquisition Corp. has announced the pricing of its IPO, offering 20 million units at $10 each. Each unit comprises one share of common stock and half a redeemable warrant, with each whole warrant allowing purchase of one share at $11.50. The offering includes a 45-day option for underwriters to buy an additional 3 million units. Trading is expected to start on July 27, 2021, under the ticker 'WRACU'. The IPO is set to close on July 29, 2021, pending customary conditions.

Positive

• Successful pricing of IPO at $10 per unit.
• Potential additional units of 3 million for underwriters, increasing liquidity.
• Established trading ticker 'WRACU' on NYSE enhances visibility.

Negative

• None.

Westport, CT , July 26, 2021 (GLOBE NEWSWIRE) -- Williams Rowland Acquisition Corp. (the “Company”), a newly organized blank check company incorporated as a Delaware corporation and led by Co-Chief Executive Officers, David “Tiger” Williams and Jonathan Rowland, today announced the pricing of its initial public offering of 20,000,000 units at an offering price of $10.00 per unit, with each unit consisting of one share of the common stock of the Company and one-half of one redeemable warrant. Each whole warrant will entitle the holder thereof to purchase one share of common stock at $11.50 per share. The Company has granted the underwriter a 45-day option to purchase up to 3,000,000 additional units at the initial public offering price to cover over-allotments, if any. The units are expected to trade on the New York Stock Exchange (“NYSE”) under the ticker symbol “WRACU” beginning July 27, 2021. Once the securities comprising the units begin separate trading, the common stock and the warrants are expected to be traded on the NYSE under the symbols “WRAC” and “WRACW,” respectively. No fractional warrants will be issued upon separation of the units and only whole warrants will trade. The offering is expected to close on July 29, 2021, subject to customary closing conditions.

Oppenheimer & Co. Inc. is acting as sole underwriter for the offering. 

A registration statement relating to the securities sold in the initial public offering was declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on July 26, 2021. The offering is being made only by means of a prospectus. When available, copies of the prospectus relating to this offering may be obtained from Oppenheimer & Co. Inc., 85 Broad Street, 26th Floor, New York, NY 10004, Attn: Syndicate Prospectus Department, telephone: (212) 667-8055 or by email at EquityProspectus@opco.com, or by accessing the SEC’s website, 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 Williams Rowland Acquisition Corp.

Williams Rowland Acquisition Corp. is a blank check company, also commonly referred to as a special purpose acquisition company, or SPAC, formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or entities.

Forward-Looking Statements

This press release contains statements that constitute “forward-looking statements,” including with respect to the Company’s initial public offering (“IPO”) and search for an initial business combination. 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 Williams Rowland Acquisition Corp., including those set forth in the Risk Factors section of Williams Rowland Acquisition Corp.’s registration statement and preliminary prospectus for the IPO filed with the SEC. Copies are available on the SEC's website, www.sec.gov. Williams Rowland Acquisition Corp. undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Contact Information:

Williams Rowland Acquisition Corp.
David B. Williams
Co- Chief Executive Officers
202-353-7600

FAQ

What is the IPO price for Williams Rowland Acquisition Corp?

The IPO price is set at $10.00 per unit.

When will trading begin for WRACU on the NYSE?

Trading for WRACU is expected to begin on July 27, 2021.

How many units are offered in the IPO?

The IPO offers 20 million units.

What is included in each unit of WRACU?

Each unit consists of one share of common stock and one-half of a redeemable warrant.

What is the expected closing date for the IPO?

The IPO is expected to close on July 29, 2021.