Mubadala keeps tight leash on Blue Whale

摘要

BLUE WHALE ACQUISITION, the debut SPAC from Abu Dhabi sovereign wealth fund Mubadala Capital, quietly surfaced last week with a US$200m IPO and just as quietly submerged on debut. The "whale" closed its Nasdaq debut on Wednesday at US$9.94 on volume of just 1.1m units, incredibly light even by SPAC standards and highlighting super tight, long-only allocations. Goldman Sachs and Bank of America placed nearly three-quarters of the 20m units priced at US$10.00 with family offices based in the Middle East and other long-only investors with financial ties to Mubadala. They publicly marketed the deal to those investors for two full days ahead of pricing late on Tuesday.