Jaws Spitfire SPFRU = 1C + 1/4W


Prospectus 11/30/20

1W + $11.50. Call $18. 

Term = 24 months. Closed 12/7/20. 

Trust = $10.00. $250,000,000, or $287,500,000 if the underwriter’s over-allotment option is exercised in full ($10.00 per unit), will be deposited into a US account @ J.P. Morgan Chase with Continental Stock Transfer & Trust Company as trustee.

CREDIT SUISSE: granted the underwriter a 45-day option to purchase up to an additional 4,500,000 units at the initial public offering price to cover over-allotments, if any.

MIAMI BEACH, Fla., Dec. 2, 2020 /PRNewswire/ -- Jaws Spitfire Acquisition Corporation (the "Company"), a special purpose acquisition company formed for the purpose of entering into a combination with one or more businesses, today announced the pricing of its initial public offering of 30,000,000 units at a price of $10.00 per unit. The units will be listed on the New York Stock Exchange and trade under the ticker symbol "SPFR.U" beginning December 3, 2020. Each unit consists of one Class A ordinary share of the Company and one-fourth of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one Class A ordinary share of the Company at a price of $11.50 per share. 

On December 7, 2020, Jaws Spitfire Acquisition Corporation (the “Company”) consummated an initial public offering (the “IPO”) of 34,500,000 units (the “Units”), including the 4,500,000 Units as a result of the underwriters’ full exercise of their over-allotment option, at an offering price of $10.00 per Unit and a private placement with Spitfire Sponsor LLC of 4,450,000 private placement warrants at a price of $2.00 per warrant (the “Private Placement”). The net proceeds from the IPO together with certain of the proceeds from the Private Placement, $345,000,000 in the aggregate (the “Offering Proceeds”), were placed in a trust account established for the benefit of the Company’s public shareholders and the underwriters of the IPO with Continental Stock Transfer & Trust Company acting as trustee.

We intend to focus our efforts on identifying a prospective target business with either all or a substantial portion of its activities in North America and/or Europe. We expect to focus on consumer technology and related technology businesses that have attractive growth-oriented characteristics and strong underlying demand drivers. As we focus our efforts in identifying a prospective target company or business, we will seek to capitalize on our Founder’s multiple decades of combined investment experience, particularly in the consumer and consumer internet and technology sectors. We do not intend to target industries that are competitive with Starwood Capital Group Holdings, L.P. (“Starwood Capital”), which includes real estate, lodging, oil and gas and energy infrastructure. Our Founders have a vast proprietary network of executives, investors and advisors. 

Led by Chairman Barry S. Sternlicht and Chief Executive Officer Matthew Walters, Jaws Spitfire Acquisition Corporation expects to focus on consumer technology and related technology businesses with attractive growth-oriented characteristics and strong underlying demand drivers and with all or a substantial portion of activities in North America and/or Europe.

Barry S. Sternlicht, our Chairman, is a well-known entrepreneur and operator with an extensive deal-making history. He founded Starwood Capital in 1991, serving as Chairman and Chief Executive Officer. Starwood Capital is a private alternative investment firm focused on global real estate, hotel management, oil and gas and energy infrastructure with over $60 billion of assets under management as of March 31, 2020. Through the Starwood Capital platform, Mr. Sternlicht has created several multi-billion dollar public market companies, ranging from traditional real estate to branded hospitality. Throughout Mr. Sternlicht’s career, he has focused on capitalizing on emerging consumer trends; either directly via core operating assets or indirectly through Starwood Capital’s real estate portfolio. He has also executed several marquee public market transactions to enhance the scale of his core platform—including the creation and expansion of Starwood Property Trust (NYSE: STWD), the consolidation of Starwood Hotels & Resorts Worldwide (formerly NYSE: HOT), the spin-off and growth of Invitation Homes (NYSE: INVH) and the formation of Equity Residential (NYSE: EQR). Similarly, he has been involved in numerous private market consumer businesses as an early investor.
Mr. Sternlicht currently serves as the Chairman and Chief Executive Officer of STWD, a leading, diversified real estate finance company with over $3 billion in market capitalization; and one of the first mortgage REITs launched post-crisis. Since inception in 2009, Mr. Sternlicht guided STWD through a steady evolution with over $61 billion in deployed capital, evolving from a pure-play commercial lender to a diversified commercial REIT with residential lending, commercial mortgage servicing, property ownership and infrastructure lending. Mr. Sternlicht also has deep operating expertise, serving as the Chairman, from January 1995 through May 2005, and as the Chief Executive Officer, from January 1995 through September 2004, of HOT; a period in which the share price appreciated at a compound annual growth rate of 16%. Over his tenure as Chief Executive Officer, he grew the total market capitalization of HOT to approximately $10 billion. As Chief Executive Officer, Mr. Sternlicht executed several key acquisitions, including Westin Hotels, Patriot American and ITT Corp., and led the development of the W Hotel concept.

Matthew Walters, our Chief Executive Officer, is currently a Principal at JAWS Estates Capital, a public and private direct investing focused single family office (“Jaws”). He directs the private investment strategy with a particular emphasis on the consumer and technology sectors for Jaws. Jaws representative investments include Artsy, Away Luggage, Color Genomics, Delos Living, Didi, Domino’s China, Flaschenpost, Flipkart, Hyperloop, Illumio, Pre-IPO Lyft, Oscar Health, Oyo Rooms, Parachute Home, Qualia, Sarcos Robotics, Sweetgreen, Third Love and Wish. Prior to joining Jaws, Mr. Walters spent his entire career at L Catterton, the largest, most global consumer-focused private equity firm, where he worked on sourcing and investment strategy for both the buyout and growth oriented funds. Mr. Walters sits on the board of Sempre Life and is a board observer at Bluestone Lane and Parachute Home. Mr. Walters received a B.A. from the University of Virginia and an M.S. in Finance from Fairfield University.

Registration statements relating to the securities became effective on December 2, 2020. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

The offering is expected to close on December 7, 2020, subject to customary closing conditions.

The offering is being made only by means of a prospectus. When available, copies of the prospectus may be obtained from: Credit Suisse Securities (USA) LLC, Attn: Prospectus Department, 6933 Louis Stephens Drive, Morrisville, NC 27560, Telephone: 1-800-221-1037, email: usa.prospectus@credit-suisse.com.