New America Acquisition I closes $345 million IPO on NYSE

New America Acquisition I Corp (NYSE: NWAXU) completed its initial public offering of 34.5 million units at $10.00 per unit, generating $345 million in gross proceeds. The offering included 30 million units initially offered and an additional 4.5 million units from the full exercise of underwriters' over-allotment option.

The units began trading on the New York Stock Exchange under the symbol "NWAXU" on December 4. Each unit consists of one share of Class A common stock and one-half of one redeemable warrant. Each whole warrant allows the holder to purchase one Class A share at $11.50 per share.

The company simultaneously closed a private placement of 600,000 units at $10.00 per unit, raising an additional $6 million. The entire $345 million from the public offering has been placed in a U.S.-based trust account, which the company plans to use for a merger or business combination with one or more businesses.

New America Acquisition I is a blank-check company targeting established U.S.-based companies in industrial automation, data and AI infrastructure, manufacturing, and energy systems modernization. The company's registration statement became effective with the Securities and Exchange Commission on November 19.

Dominari Securities LLC and D. Boral Capital LLC served as co-book-running managers for the offering. Once separate trading begins, the Class A common stock and warrants are expected to trade under symbols "NWAX" and "NWAXW" respectively.

You May Also Be Interested In

• enVVeno Medical (NVNO) files $100M mixed shelf
• Silexion Therapeutics faces Nasdaq delisting over equity shortfall
• Myriad Uranium completes acquisition of Rush Rare Metals