RXR Acquisition Corp. Announces Closing of Over-Allotment Option in Connection with its Initial Public Offering
March 16 2021 - 6:31PM
RXR Acquisition Corp. (the “Company”) today announced the closing
of the issuance of an additional 4,500,000 units pursuant to the
full exercise of the underwriters' over-allotment option in
connection with the Company's initial public offering. The
additional units were sold at the initial offering price of $10.00
per unit, resulting in additional gross proceeds of $45,000,000 and
bringing the total gross proceeds of the initial public offering to
$345,000,000.
The Company’s units began trading on The Nasdaq
Capital Market (“Nasdaq”) under the ticker symbol “RXRA.U” on March
4, 2021. Each unit consists of one share of the Company’s Class A
common stock and one-fifth of one redeemable warrant of the
Company. Each whole warrant is exercisable to purchase one share of
the Company’s Class A common stock 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 common stock and
warrants are expected to be listed on Nasdaq under the symbols
“RXRA” and “RXRA.WS,” respectively.
Goldman Sachs & Co. LLC and BofA Securities,
Inc. acted as joint-book running managers for the offering.
Of the proceeds received from the consummation
of the offering (as well as the exercise of the option to purchase
additional units) and a simultaneous private placement of warrants,
$345,000,000 (or $10.00 per unit sold in the offering) was placed
in trust. An audited balance sheet of the Company as of March 8,
2021 reflecting the receipt of the proceeds upon consummation of
the initial public offering and the private placement (but not
including the closing of the additional units described herein) was
included as an exhibit to the Current Report on Form 8-K filed by
the Company with the Securities and Exchange Commission (the "SEC")
on March 12, 2021.
The public offering is being made only by means
of a prospectus. When available, copies of the prospectus relating
to the offering may be obtained by contacting Goldman Sachs &
Co. LLC, Attention: Prospectus Department, 200 West Street, New
York, New York 10282, or by telephone at (866) 471-2526, or by
email at prospectus-ny@ny.email.gs.com; or BofA Securities,
Attention: Prospectus Department, NC1-004-03-43, 200 North College
Street, 3rd floor, Charlotte NC 28255-0001, by telephone at
1-800-294-1322 or by email at dg.prospectus_requests@bofa.com.
Registration statements relating to the
securities were declared effective by the U.S. Securities and
Exchange Commission (the “SEC”) on March 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.
About RXR Acquisition Corp.
RXR Acquisition Corp. is a special purpose
acquisition company formed by RXR Realty LLC, 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 expects
to focus its search for a target business combination that operates
at the intersection of real estate and technology, also known as
“PropTech,” including immediately adjacent ecosystems to real
estate such as logistics, modern mobility, financial services and
technologies that address problems or inefficiencies associated
with urbanization, also known as “Urban Tech.”
Cautionary Note Concerning
Forward-Looking Statements
This press release contains statements that
constitute “forward-looking statements,” including with respect to
the anticipated use of the net proceeds thereof. No assurance can
be given that the net proceeds of the offering will be used as
indicated. 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 Information
Michael
Maturo |
Chief
Financial Officer |
(516)
506-6797 |
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