GOOD WORKS II ACQUISITION CORP. (GWIIU) is planning to raise $200 million in an initial public offering (IPO) on the week of July 12th, IPO Scoop reports. The company will issue 20,000,000 shares at $10.00 per share.
GOOD WORKS II ACQUISITION CORP. has a market-cap of $256.5 million.
I-Bankers Securities, Inc. acted as the underwriter for the IPO.
GOOD WORKS II ACQUISITION CORP. provided the following description of their company for its IPO: “We intend to initially focus our search on identifying a prospective target business experiencing very high growth and with an enterprise value of $1 billion or more. (Note: This is the second SPAC or blank-check company established under the Good Works name.) Our name, Good Works, embodies our complementary objectives of (1) investing in a high-quality company in need of growth capital and (2) giving back by donating part of our founder shares to non-profits. Our company, through its officers, has made available 750,000 founder shares (250,000 to each of our three officers) to be contributed to non-profit organizations. We recognize that the timing of our initial public offering coincides with one of the most economically challenging periods in the history of the United States. The coronavirus pandemic and associated COVID-19 disease have led to over 500,000 deaths in the U.S., massive unemployment and physical and emotional suffering on untold individuals. Many non-profit organizations have been adversely challenged by substantial decreases in both revenue-producing activities and donations. Accordingly, it is the intention of our officers that these founder shares are to be donated to non-profits, including those involved in the arts, human rights and the advancement of life sciences. We believe the charitable aspect of our undertakings is a strong motivating factor for our officers and directors to make our company successful for both our stockholders and these non-profits. “.
GOOD WORKS II ACQUISITION CORP. was founded in 2020 and has 0 employees. The company is located at 4265 San Felipe, Suite 603 Houston, Texas 77027 and can be reached via phone at (713) 468-2717.
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