Blue Whale Acquisition I, a blank check company formed by the UAE's Mubadala Capital targeting media, entertainment, and tech, raised $200 million by offering 20 million units at $10. Each unit consists of one share of common stock and one-fourth of a warrant, exercisable at $11.50.
Blue Whale Acquisition I is led by CEO and Director Maxime Franzetti, co-founder and Head of Public Equities and SPACs at Mubadala Capital, a subsidiary of Mubadala, and CFO Russ Pillar, founder and Executive Chairman of Reigning Champs. The company aims to leverage management's experience to target businesses that benefit from the growth of connected devices and digital streaming services.
Blue Whale Acquisition I plans to list on the Nasdaq under the symbol BWCAU. Goldman Sachs and BofA Securities acted as joint bookrunners on the deal.
