World Quantum Growth Acquisition, a blank check company led by the former LSEG CEO targeting the financials sectors in the US and EMEA, lowered the proposed deal size for its upcoming IPO on Thursday.
The Cayman Islands-based company now plans to raise $200 million by offering 20 million units at $10. The company had previously filed to offer 30 million units at the same price. Each unit now consists of one share of common stock and one-half of a warrant, exercisable at $11.50. Units previously contained one-third of a warrant. At the revised deal size, World Quantum Growth Acquisition will raise -33% less in proceeds than previously anticipated.
The company is led by CEO and Chairman Xavier Rolet, the former CEO of the London Stock Exchange Group (LSEG), and CFO and Director Serge Harry, who previously served as the CFO of Euronext, through its 2001 IPO and its $20 billion merger with the NYSE. The company plans to target the financial and fintech sectors in the US and EMEA region as well as relevant technology firms supporting these sectors.
World Quantum Growth Acquisition was founded in 2021 and plans to list on the NYSE under the symbol WQGA.U. Credit Suisse is the sole bookrunner on the deal.
