NEW YORK--(BUSINESS WIRE)--Starboard Value Acquisition Corp. today announced the pricing of its initial public offering of 36,000,000 units upsized from 30,000,000 units, at a price of $10.00 per unit. The units will be listed on The Nasdaq Stock Market and will trade under the ticker symbol “SVACU” beginning on September 10, 2020. Each unit consists of one share of Class A common stock, one-sixth of one redeemable warrant, and a contingent right to receive at least one-sixth of one redeemable warrant. Each whole warrant entitles the holder to purchase one share of Class A common stock at a price of $11.50 per share. After the securities comprising the units begin separate trading, the Class A common shares and the warrants are expected to be listed on the Nasdaq under the symbols “SVAC” and “SVACW,” respectively. The offering is expected to close on September 14, 2020.

SVAC is a new blank check company incorporated for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses (the “Initial Business Combination”). The Company’s sponsor, SVAC Sponsor LLC (the “Sponsor”), is an affiliate of Starboard Value LP.

While the Company may pursue an acquisition opportunity in any industry or sector, it intends to focus on industries that align with the background and experience of its Sponsor and Industry Advisors. These industries include the technology, healthcare, consumer, industrials and hospitality & entertainment sectors.

UBS Securities LLC, Stifel, Nicolaus & Company, Incorporated and Cowen and Company, LLC are acting as joint book-running managers for the offering. The Company has granted the underwriters a 45-day option from the date of the final prospectus to purchase up to an additional 5,400,000 units to cover over-allotments, if any.

Registration statements relating to these securities became effective on September 9, 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.