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DWAC priced each of its units at $10, raising $250 million in gross proceeds through the offering. Each unit consists of one class A common stock and half of a redeemable warrant. DWAC plans to merge with middle-market and emerging growth technology-focused companies in the Americas that do business in Software-as-a-Service (SaaS) and Technology or Fintech and Financial Services.
DWAC stated in its prospectus that it would allow shareholders to redeem all or a portion of their holdings upon the completion of its business combination. Shares of DWAC have gained 423.1% in price since its stock market debut to close yesterday’s trading session at $52.05.
