Good Works Acquisition Corp. (GWACU) Prices $150M IPO

Good Works Acquisition Corp. announced the pricing of its $150 million IPO this morning and its units are expected to begin trading on the Nasdaq under the symbol “GWACU” today, Tuesday, October 20.

The new company aims to combine with a target that has been distressed by the impacts of the COVID-19 outbreak with an enterprise value of $400 million or more. Good Works is led by Co-Chairman and CEO Fred Zeidman and Co-Chairman and Director Douglas Wurth alongside President and Director Cary Grossman.

Total SPAC deal count for 2020 year-to-date is now 147 with $56.07 billion in gross proceeds raised. This offering is expected to close on Thursday, October 22.

I-Bankers Securities, Inc. is serving as sole book running manager for the offering. Schiff Hardin LLP is serving as Issuer’s Counsel with Ellenoff Grossman & Schole LLP serving as Underwriter’s Counsel. Marcum LLP serves as auditor. Continental Stock Transfer & Trust Company LLC is acting as trustee.