BowX Acquisition Corp. (BOWXU) Prices Upsized $420M IPO

BowX Acquisition Corp. (BOWXU), announced the pricing of their upsized $420 million IPO tonight and the units are expected to begin trading tomorrow, Wednesday, August 5th, under the symbol Nasdaq: BOWXU.

BowX Acquisition Corp. intends to focus on businesses in the technology, media and telecommunications industries and will be led by Vivek Ranadivé, as Chairman and Co-Chief Executive Officer.  Mr. Ranadivé will be joined by Murray Rode as Co-Chief Executive Officer, Chief Financial Officer, Secretary, Treasurer and Director.

Total SPAC deal count for 2020 year-to-date is now 59 with $24.26 billion in gross proceeds raised. The offering is anticipated to close on Friday, August 7, 2020.

UBS Securities LLC is acting as the sole book running manager for the offering. Graubard Miller and Skadden, Arps, Slate, Meagher & Flom LLP, were Issuer’s Counsel and Underwriter’s Counsel, respectively. WithumSmith+Brown, PC, acted as auditor.