NEW YORK--(BUSINESS WIRE)--Mason Industrial Technology, Inc., a newly organized blank check company incorporated in Delaware for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses, today announced the closing of its initial public offering of 50,000,000 units, including the issuance of 5,000,000 units as a result of the underwriters’ exercise of their over-allotment option. Each unit consists of one share of the Company’s Class A common stock and one-third of one redeemable warrant. Each whole redeemable warrant entitles the holder thereof to purchase one share of the Company’s Class A common stock at a price of $11.50 per share. The offering was priced at $10.00 per unit, resulting in gross proceeds of $500,000,000, before deducting underwriting discounts and commissions and other offering expenses payable by the Company.

The units began trading on the New York Stock Exchange under the ticker symbol “MIT.U” on January 29, 2021. Once the securities comprising the units begin separate trading, the Class A common stock and warrants are to be listed on the NYSE under the symbols “MIT” and “MIT.W,” respectively.

Citigroup Global Markets Inc. and Jefferies LLC served as underwriters for the offering.