Winston & Strawn Represents the Underwriter in Connection with Prime Number Acquisition I Corp.
June 7, 2022
Source: Winston & Strawn
Winston & Strawn represented the underwriter in connection with Prime Number Acquisition I Corp. (the "Company"), a newly organized blank check company incorporated as a Delaware corporation and led by Chairman and Chief Executive Officer, Dongfeng Wang, in the closing of its previously announced initial public offering of 6,450,000 units at an offering price of $10.00 per unit, which includes 450,000 units issued pursuant to the partial exercise of the underwriter's over-allotment option, for aggregate gross proceeds to the Company of $64,500,000. Each unit consists of one share of Class A Common Stock, one-half of one redeemable warrant, and one right. Each whole warrant entitles the holder thereof to purchase one share of Class A Common Stock, and each eight rights entitle the holder thereof to receive one share of Class A Common Stock upon consummation of an initial business combination. The exercise price of the warrants is $11.50 per full share. The units began trading on the Nasdaq Global Market ("Nasdaq") under the ticker symbol "PNACU" on May 13, 2022. Once the securities comprising the units begin separate trading, the Class A Common Stock, warrants and rights are expected to be traded on Nasdaq under the symbols "PNAC," "PNACW," and "PNACR," respectively. No fractional warrants will be issued upon separation of the units and only whole warrants will be traded.
Press Release
Deal Team
Mike Blankenship, Lead Partner, Houston
James Brown, Partner, Houston
Douglas Lionberger, Partner, Houston
Olga Loy, Partner, Chicago
David Sakowitz, Partner, New York
Hannah Gallagher, Associate, Chicago
Robbie Oakes, Associate, Houston
Alexandra Santana, Associate, Houston
Kate Schorken, Associate, Houston
Ben Smolij, Associate, Houston
Alexander Tanner, Associate, Houston
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