Cushman & Wakefield's real estate-focused SPAC C&W Acquisition files for a $250 million IPO
C&W Acquisition, a blank check company formed by Cushman & Wakefield targeting real estate and proptech, filed on Friday with the SEC to raise up to $250 million in an initial public offering.
The Chicago, IL-based company plans to raise $250 million by offering 25 million units at $10. Each unit will consist of one share of common stock and one-fourth of a warrant, exercisable at $11.50. At the proposed deal size, C&W Acquisition will command a market value of $313 million.
The company is led by Chairman Brett White, who currently serves as Executive Chairman and CEO of Cushman & Wakefield. He is joined by CEO and Director Nathaniel Robinson, who is the CIO and EVP of Strategic Planning of Cushman & Wakefield. C&W Acquisition intends to focus on identifying businesses that can benefit from the sponsor’s global footprint, leading brand, operational expertise, client insights, research and data, and procurement scale in the real estate industry, including technologies targeting proptech businesses and real estate adjacent businesses.
C&W Acquisition was founded in 2021 and has not yet chosen an exchange or a ticker (RC ticker: CWAU.RC). Citi and BofA Securities are the joint bookrunners on the deal.
The article Cushman & Wakefield's real estate-focused SPAC C&W Acquisition files for a $250 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.
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