5:01 Acquisition Corp. (MACUU) Prices $80M IPO


5:01 Acquisition Corp. (MACUU) Prices $80M IPO

5:01 Acquisition Corp. announced the pricing of its $80 million IPO this evening and its shares are expected to begin trading on the Nasdaq under the symbol “FVAM” tomorrow, Wednesday, October 14.

The new company aims to combine with a biotechnology target with scientifically differentiated potential treatments that remains at the early stages of its development. 5:01 is led by Co-CEO and Director Andrew J. Schwab, Co-CEO and Director Kush M. Parmar, General Counsel and Secretary Galya D. Blachman, CFO Rebecca L. Lucia, and Chief Business Officer Jason R. Ruth.

Total SPAC deal count for 2020 year-to-date is now 139 with $53.81 billion in gross proceeds raised. This offering is expected to close on Friday, October 16.

BofA Securities, Inc. acted as the sole book-running manager for the offering. Cooley LLP is serving as Issuer’s Counsel with Shearman & Sterling LLP serving as Underwriter’s Counsel. WithumSmith+Brown, PC serves as auditor. Continental Stock Transfer & Trust Company LLC is acting as trustee.