New Beginnings Acquistion Corp. (NBA.U) Prices $100M IPO


New Beginnings Acquistion Corp. (NBA.U) Prices $100M IPO

Oct 29, 2020 INTEL by Kristi Marvin

New Beginnings Acquisition Corp. announced the pricing of its $100 million IPO this evening and its units are expected to begin trading on the Nasdaq under the symbol “NBA.U” Friday, October 30.

The new company aims to combine with a target in the travel, hospitality, leisure, financial technology (fintech), insurance technology and property technology (proptech) sectors. New Beginnings is led by Chairman Russell W. Galbut and CEO and Director Michael S. Liebowitz.

Total SPAC deal count for 2020 year-to-date is now 167 with $61.68 billion in gross proceeds raised. This offering is expected to close on Tuesday, November 3 2020.

EarlyBirdCapital, Inc. and Ladenburg Thalmann & Co. Inc. are acting as joint book-running managers of the offering. Greenberg Traurig, P.A. is serving as Issuer’s Counsel with Graubard Miller serving as Underwriter’s Counsel. Marcum LLP serves as auditor. Continental Stock Transfer & Trust Company LLC is acting as trustee.