Queen’s Gambit, an all-female-led special purpose acquisition company (SPAC), has announced plans for its initial public offering (IPO).
Here’s what investors need to know about Queen’s Gambit, as well as its IPO plans.
- Starting off, the company is led by founder and CEO Victoria Grace.
- Grace also serves as a founding partner of Colle Capital Partners I LP.
- Alongside her is CFO Anastasia Nyrkovskaya, whose also currently acting as the CFO of FORTUNE Media.
- The SPAC’s goal is to target “a platform that provides disruptive solutions to its sector that promote sustainable development, economic growth and prosperity.”
- The Queen’s Gambit IPO will have the company selling units on the Nasdaq Exchange under the GMBTU ticker.
- This offering will include 27.5 million units that are priced at $10 each.
- Each of these units will contain one Class A share, as well as one-third of one redeemable warrant.
- A single whole warrant can be exercised for a share of Class A stock at a price of $11.50.
- Shares will trade on the Nasdaq under the GMBT ticker and warrants will trade under the GMBTW ticker.
- Queen’s Gambit’s IPO also includes a 45-day option for underwriters to acquire an additional 4.125 million units.
- “Barclays is acting as the sole book-running manager and representative for the underwriters” for the IPO.
- The joint co-managers of the offering are R. Seelaus & Co., LLC, and Siebert Williams Shank & Co., LLC.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.