NEW YORK--(BUSINESS WIRE)--Starboard Value Acquisition Corp. (NASADQ: SVACU) today announced the closing of its initial public offering of 36,000,000 units. The offering was priced at $10.00 per unit, resulting in gross proceeds of $360,000,000.

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 acted 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.

About Starboard Value Acquisition Corp.

Starboard Value Acquisition Corp. is a newly incorporated blank check company whose business purpose is to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. 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. For more information, please go to StarboardSVAC.com.