Crispr Therapeutics shares tumble after significant earnings miss
Wen Acquisition Corp, a special purpose acquisition company, announced the successful completion of its initial public offering (IPO) on May 19, 2025. The IPO included 30,015,000 units, with each unit comprising one Class A ordinary share and half of one redeemable warrant, at $10 per unit. This resulted in gross proceeds of $300,150,000. Additionally, the company sold 7,220,000 private placement warrants, generating an extra $7,220,000.
The underwriters fully exercised their over-allotment option, contributing to the total units sold. Each whole warrant allows the holder to purchase one Class A ordinary share at $11.50. The proceeds from the IPO and the private placement were placed into a trust account managed by Continental Stock Transfer & Trust Company.
The company’s sponsor, Wen Sponsor LLC, and the underwriters’ representative, Cantor Fitzgerald & Co., purchased the private placement warrants. An audited balance sheet as of the IPO date was included in the company’s filing as Exhibit 99.1.
This report is based on a press release statement.
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