Blue Water Acquisition Corporation (BLUWU) Prices $50M IPO


Blue Water Acquisition Corporation (BLUWU) Prices $50M IPO

Blue Water Acquisition Corporation announced the pricing of its $50 million IPO this morning and its units are expected to begin trading on the Nasdaq under the symbol “BLUWU” today, Tuesday, December 15.

The new company aims to combine with a life sciences or biotechnology business with a strong management team and a margin structure receptive to additional investment. Blue Water is led by Chairman and CEO Joseph Hernandez alongside CFO Jon Garfield.

Total SPAC deal count for 2020 year-to-date is now 234 with $78.35 billion in gross proceeds raised. This offering is expected to close on Thursday, December 18.

Maxim Group LLC is acting as the sole book-running manager for the offering. Ellenoff Grossman & Schole LLP is serving as Issuer’s Counsel with Loeb & Loeb LLP serving as Underwriter’s Counsel. Marcum LLP serves as auditor. Continental Stock Transfer & Trust Company LLC is acting as trustee.