Newbury Street Acquisition Corp. (NBSTU) Prices $120M IPO


Newbury Street Acquisition Corp. (NBSTU) Prices $120M IPO

Newbury Street Acquisition Corporation announced the pricing of its downsized $120 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “NBSTU”, Tuesday, March 23.

The new company aims to combine with a disruptive consumer internet or media target valued between $500 million to $2.5 billion. Newbury Street is led by Chairman Matthew Hong, CEO Thomas Bushey and CFO Kenneth King.

Total SPAC deal count for 2021 year-to-date is now 277. This offering is expected to close on Thursday, March 25.

EarlyBirdCapital, Inc. is acting as the sole book-running manager for the offering. Ellenoff Grossman & Schole LLP is serving as Issuer’s Counsel with Graubard Miller LLP serving as Underwriter’s Counsel. Marcum LLP serves as auditor. Continental Stock Transfer & Trust Company is acting as trustee.