Jaws Acquisition Corp. (JWS.U) Prices Upsized $600M SPAC IPO


Jaws Acquisition Corp. (JWS.U) Prices Upsized $600M SPAC IPO

May 13, 2020 INTEL by Kristi Marvin

Jaws Acquisition Corp. (JWS.U), announced the pricing of their upsized $600 million SPAC IPO this afternoon and the units are expected to begin trading tomorrow, Thursday, May 14th, under the symbol NYSE: JWS.U.

Jaws Acquisition Corp. is being sponsored by Jaws Estates Capital, the family office of Barry Sternlicht, who will be the Chairman of this SPAC.  Additionally, Mr. Sternlicht will be joined by Joseph Dowling, as CEO. Mr. Dowling currently serves as the CEO of Brown University’s $4.1 billion endowment after serving as Chief Investment Officer from 2013 to 2018.

Total SPAC deal count for 2020 year-to-date is now 24 with $7.536 billion in gross proceeds raised. The offering is anticipated to close on Monday, May 18, 2020.

Credit Suisse Suisse Securities (USA) LLC is serving as lead book-running manager for this offering. Morgan Stanley & Co. LLC and Citigroup Global Markets Inc. are serving as book-running managers for the offering. Kirkland & Ellis LLP, and Skadden, Arps, Slate, Meagher & Flom LLP, were Issuer’s Counsel and Underwriter’s Counsel, respectively. WithumSmith+Brown, PC acted as auditor.