NEW YORK CITY--(BUSINESS WIRE)--World Quantum Growth Acquisition Corp. (the “Company”), a special purpose acquisition company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses, today announced the pricing of its initial public offering of 20,000,000 units at a price of $10.00 per unit. The Company is sponsored by World Quantum Growth Acquisition LLC, a Cayman Islands limited liability company that was organized by, and to which the initial capital was contributed by, Xavier Rolet KBE, Serge Harry, Antoine Shagoury and Michel Brogard, among others. Although the Company will not be limited to a particular industry or geographic region in its identification and acquisition of a target company, the Company believes the financial services and the financial technology sectors in the U.S. and EMEA as well as relevant technology firms supporting these sectors present particularly attractive investment opportunities.
The units are expected to be listed on the New York Stock Exchange (the “NYSE”) and trade under the ticker symbol “WQGA.U” beginning August 11, 2021. Each unit consists of one Class A ordinary share and one-half of one redeemable warrant. Each whole warrant may be exercised for one Class A ordinary share at a price of $11.50 per share. Only whole warrants are exercisable. Once the securities comprising the units begin separate trading, the Class A ordinary shares and warrants are expected to be listed on the NYSE under the symbols “WQGA” and “WQGA WS,” respectively.
Credit Suisse Securities (USA) LLC is acting as sole book-running manager for the offering. The offering is expected to close on August 13, 2021, subject to customary closing conditions. The Company has granted the underwriter a 45-day option to purchase up to an additional 3,000,000 units at the initial public offering price to cover over-allotments, if any.
The offering is being made only by means of a prospectus. When available, copies of the prospectus related to the offering may be obtained for free by visiting EDGAR on the SEC's website at www.sec.gov or from Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, 6933 Louis Stephens Drive, Morrisville, NC 27560, Telephone: 1-800-221-1037, email: usa.prospectus@credit-suisse.com.
The registration statement relating to the securities of the Company was declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on August 10, 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.
Forward-Looking Statements
This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the initial public offering of the Company and its management. The statements involve risks and uncertainty. Words such as "anticipate," "estimate," "expect," "intend," "plan," and "project" and other similar words and expressions are intended to signify forward-looking statements. Forward-looking statements are not guarantees of future results and conditions but rather are subject to various risks and uncertainties. Such statements are based on the Company's current expectations and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Investors are cautioned that there can be no assurance actual results or business conditions will not differ materially from those projected or suggested in such forward-looking statements as a result of various risks and uncertainties. No assurance can be given that the offering discussed above will be completed on the terms described, or at all, or that the net proceeds of the offering will be used as indicated. Investors should refer to the risks detailed from time to time in the reports the Company files or will file with the SEC for additional factors that could cause actual results to differ materially from those stated or implied by such forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, unless required by law.