GREENWICH, Conn., Dec. 17, 2020 /PRNewswire/ -- Blue Water
Acquisition Corporation (NASDAQ: BLUWU) (the "Company"), a special
purpose acquisition company, announced today that it closed its
initial public offering of 5,750,000 units, which includes 750,000
units issued pursuant to the full exercise by the underwriter of
their over-allotment option. The offering was priced at
$10.00 per unit, resulting in gross
proceeds of $57,500,000. Each unit
consisted of one share of the Company's Class A common stock and
one redeemable warrant to purchase one share of Class A common
stock at an initial exercise price of $11.50 per share.
The units are listed on The Nasdaq Capital Market ("Nasdaq") and
began trading under the ticker symbol "BLUWU" on December 15, 2020. Once the securities comprising
the units begin separate trading, the common stock and warrants are
expected to be listed on Nasdaq under the symbols "BLUW" and
"BLUWW," respectively. Blue Water Acquisition Corporation was
founded by Joseph Hernandez, a life
sciences entrepreneur.
Maxim Group LLC acted as sole book running manager in the
offering.
A registration statement relating to these securities was
declared effective by the Securities and Exchange Commission on
December 15, 2020. The offering was
made only by means of a prospectus, copies of which may be obtained
by contacting Maxim Group LLC, 405 Lexington Ave Second Floor,
New York, NY 10174 at
212-895-3745. Copies of the registration statement can be accessed
through the SEC's website at www.sec.gov.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
Cautionary Note Concerning Forward-Looking Statements
This press release contains statements that constitute
"forward-looking statements," including with respect to the
Company's separation of units and listing of common stock and
warrants. No assurance can be given that such separate trading and
listing will occur on the terms described, or at all.
Forward-looking statements are subject to numerous conditions, many
of which are beyond the control of the Company, including those set
forth in the Risk Factors section of the Company's registration
statement and prospectus for the Company's offering filed with the
SEC. Copies are available on the SEC's website, www.sec.gov. The
Company undertakes no obligation to update these statements for
revisions or changes after the date of this release, except as
required by law.
Contact:
Russo Partners
David Schull
(858) 717-2310
david.schull@russopartnersllc.com
Ignacio Guerrero-Ros, Ph.D.
(646) 942-5604
Ignacio.Guerrero-Ros@russopartnersllc.com
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SOURCE Blue Water Acquisition Corporation