Mubadala Capital’s Blue Whale Acquisition Corp I Announces Pricing Of $200 Million IPO

Mubadala Capital’s Blue Whale Acquisition Corp I announces pricing of $200 million IPO

ABU DHABI, (UrduPoint / Pakistan Point News / WAM - 04th Aug, 2021) Blue Whale Acquisition Corp I has announced today the pricing of its initial public offering of 20,000,000 units at US$10.00 per unit.

The units will be listed on the Nasdaq Capital Market (Nasdaq) in the United States and trade under the ticker symbol "BWCAU" beginning on 4th August, 2021.

Blue Whale Acquisition Corp I is sponsored by Mubadala Capital, the asset management subsidiary of Mubadala Investment Company PJSC ("Mubadala"), a leading global sovereign investor headquartered in Abu Dhabi, with more than US$243 billion of assets under management. The Company was formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganisation, or similar business combination with one or more businesses in the media, entertainment and technology industries. The Company is led by Maxime Franzetti, Head of Public Equities and SPACs at Mubadala Capital, Adib Mattar, Head of Private Equity at Mubadala Capital and Russ Pillar, Founder and Executive Chairman of Reigning Champs, the world’s largest NCAA-compliant path-to-college company for student-athletes, and Senior Advisor to Mubadala Capital.

Each unit offered for sale consists of one Class A ordinary share, and one-fourth of one warrant to purchase one Class A ordinary share, for US$10.00 per unit. In addition, MIC Capital Partners (Public) Parallel Cayman, LP, the direct parent of the sponsor, has agreed to enter into a forward purchase agreement that will provide for the purchase, at its discretion, of up to US$50,000,000 forward purchase units, each consisting of one Class A ordinary share, or a forward purchase share, and one-fourth of one warrant to purchase one Class A ordinary share, or a forward purchase warrant, for US$10.00 per unit, in a private placement to close substantially concurrently with the closing of the initial business combination.

MIC Capital Partners (Public) Parallel Cayman, LP has also committed to purchase 2,000,000 units of the 20,000,000 public shares sold in this offering at the offering price of US$10.00 per unit. When the securities comprising the units begin separate trading, the Company expects that the Class A ordinary shares and warrants will be listed on Nasdaq under the symbols "BWC" and "BWCAW", respectively.

Goldman Sachs & Co. LLC and BofA Securities are acting as book-running managers in the offering. The Company has granted the underwriters a 45-day option to purchase up to 3,000,000 additional units at the initial public offering price to cover over-allotments, if any.

The initial public offering is being made only by means of a prospectus. When available, copies of the prospectus relating to the offering may be obtained for free from the U.S. Securities and Exchange Commission website (http://www.sec.gov); Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, New York 10282-2198, telephone +1 866 471 2526, facsimile: +1 212 902 9316, or email: prospectus-ny@ny.email.gs.com; and BofA Securities, NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte, NC 28255-0001, Attention: Prospectus Department or email: dg.prospectus_requests@bofa.com.

A registration statement relating to the securities sold in the initial public offering has been declared effective by the US Securities and Exchange Commission on August 3, 2021. This press release shall not constitute an offer to sell or the 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.