NEW YORK, Feb. 02, 2021 (GLOBE NEWSWIRE) -- Z-Work Acquisition Corp. (Nasdaq: ZWRKU), a 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, today announced that it has closed its initial public offering of 23,000,000 units, including 3,000,000 units issued pursuant to the full exercise by the underwriters of their over-allotment option, at a price of $10.00 per unit. Although the Company will not be limited to any particular industry, sector or geographic region in its identification and acquisition of a business combination target, the Company was created to take advantage of the transformative impact of technology on how work is found, facilitated and enhanced.
The units are listed on the Nasdaq Capital Market (“Nasdaq”) and trade under the ticker symbol “ZWRKU”. Each unit consists of one share of Class A common stock and one-third of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one share of Class A common stock at a price of $11.50 per share. Only whole warrants are exercisable. Once the securities comprising the units begin separate trading, the Class A common stock and warrants are expected to be listed and traded on Nasdaq under the symbols “ZWRK” and “ZWRKW”, respectively.
This communication shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of securities in any state or other 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 other jurisdiction.
About Z-Work Acquisition Corp.
Z-Work Acquisition Corp. (the “Company”) is a 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. Although the Company will not be limited to any particular industry, sector or geographic region in its identification and acquisition of a business combination target, the Company was created to take advantage of the transformative impact of technology on how work is found, facilitated and enhanced. Work, in all its forms, is being fundamentally disrupted and transformed as companies both big and small recognize the power of technology to improve worker productivity, satisfaction and, ultimately, their bottom lines. The Company plans to target high growth, technology-based and technology-enhanced companies that provide products and services that support companies and workers.
