WASHINGTON--(BUSINESS WIRE)--BOA Acquisition Corp., a blank check company whose business purpose is to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses, announced today that it closed its initial public offering of 20,000,000 units at $10.00 per unit, including 3,000,000 units issued pursuant to the exercise by the underwriters of their over-allotment option in full. The units are listed on The New York Stock Exchange and began trading under the ticker symbol "BOAS.U" on February 24, 2021. Each unit consists of one share of Class A common stock and one-third of one redeemable warrant. Each whole warrant is exercisable to purchase one share of Class A common stock at a price of $11.50 per share. Only whole warrants are exercisable and will trade. Once the securities comprising the units begin separate trading, the Class A common stock and warrants are expected to be listed on the New York Stock Exchange under the symbols “BOAS” and “BOAS.W,” respectively.
While the Company may pursue an initial business combination target in any industry or geographic region, the Company intends to focus on combining with “PropTech” businesses that provide technological solutions and innovation to the broader real estate industry with an aggregate enterprise value greater than $500 million, as the Company believes that businesses that use digital technologies, services and solutions to streamline the marketplace and disrupt standardized practices provide an attractive opportunity for business combinations. The Company is led by Scott J. Seligman, Chairman; Brian D. Friedman, Chief Executive Officer and Chief Investment Officer; and Benjamin A. Friedman, Chief Financial Officer and Head of Investor Relations.
BTIG, LLC acted as sole book running manager for the offering.
About BOA Acquisition Corp.
BOA Acquisition Corp. is a newly organized blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. While the Company may pursue an initial business combination target in any business or industry, it intends to focus its search on businesses that provide technological solutions and innovation to the broader real estate industry.
