NEW YORK, Jan. 19, 2021 /PRNewswire/ -- Queen's Gambit Growth Capital (the "Company") announced today that it intends to commence its initial public offering (the "IPO") of 27,500,000 units at a price of $10.00 per unit. Each unit issued in the IPO will consist of one of the Company's Class A ordinary shares, par value $0.0001 per share, and one-third of one redeemable warrant, with each whole warrant entitling the holder thereof to purchase one Class A ordinary share of the Company at an exercise price of $11.50 per share. The units are expected to be listed on the NASDAQ Capital Market (the "NASDAQ") and trade under the ticker symbol "GMBTU." Once the securities comprising the units begin separate trading, the Class A ordinary shares and warrants are expected to be listed on the NASDAQ under the symbols "GMBT" and "GMBTW," respectively.
Barclays is acting as the sole book-running manager and representative for the underwriters for the proposed offering. R. Seelaus & Co., LLC and Siebert Williams Shank & Co., LLC are acting as joint co-managers for the proposed offering. The Company intends to grant the underwriters a 45-day option to purchase up to 4,125,000 additional units to cover over-allotments, if any.