VG Acquisition Corp. has announced that it priced its initial public offering of 48,000,000 units at US$10.00 per unit. The units will be listed on the New York Stock Exchange (NYSE) and trade under the ticker symbol VGAC.U. Each unit consists of one Class A ordinary share and one-third of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one Class A ordinary share at a price of US$11.50 per share. Only whole warrants are exercisable. Once the securities comprising the units begin separate trading, the Class A ordinary shares and redeemable warrants are expected to be listed on NYSE under the symbols VGAC and VGAC WS, respectively.
Latham & Watkins LLP represents the underwriter in the offering with a capital markets team led by New York partner Michael Benjamin and Washington, D.C. partner Shagufa Hossain, with Houston associates Om Pandya, Sarah Dunn and Joseph Kmetz. Advice was also provide on tax matters by Washington, D.C. partner Andrea Ramezan-Jackson, with Washington, D.C. associate Eli McCrain.