Newborn Acquisition Corp. (NBACU) Prices $50M IPO


Newborn Acquisition Corp. (NBACU) Prices $50M IPO

Feb 14, 2020 INTEL by Kristi Marvin

Newborn Acquisition Corp. (NBACU), announced the pricing of their $50 million SPAC IPO this morning and the units are expected to begin trading today, Friday, February 14th, under the symbol Nasdaq: NBACU.

In addition, the underwriters have fully exercised the over-allotment option to purchase an additional 750,000 units

Newborn will be focusing on companies in the Asia region (excluding China) and will be led by Wenhui Xiong, as Chairman and Chief Executive Officer, and Jianjun Nie, as Chief Financial Officer and Director.

Total SPAC deal count for 2020 year-to-date is now 7 with $1.440 billion in gross proceeds raised. The offering is anticipated to close on Wednesday, February 19, 2020.

Congratulations to all.

Chardan acted as sole book-running manager for the offering. Loeb & Loeb LLP and Greenberg Traurig, LLP were Issuer’s Counsel and Underwriter’s Counsel, respectively. Marcum Bernstein & Pinchuk LLP acted as auditor.