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N*GEN Partners' healthy living SPAC Better World Acquisition files for a $125 million IPO

October 7, 2020

Better World Acquisition, a blank check company formed by N*GEN Partners targeting a healthy living business with a strong ESG profile, filed on Wednesday with the SEC to raise up to $125 million in an initial public offering.

The New York, NY-based company plans to raise $125 million by offering 12.5 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50. At the proposed deal size, Better World Acquisition would command a market value of $160 million.

The company is led by CEO and Chairman Rosemary Ripley, a Managing Member of N*GEN Partners, a venture capital and growth equity investment firm investing in healthy and sustainable living. CFO and Director Peter Grubstein is the founder of N*GEN and serves as a Managing Member. The SPAC plans to target businesses in the healthy living industries that benefit from strong environmental, social, and governance profiles.

Better World Acquisition was founded in 2020 and plans to list on the Nasdaq under the symbol BWACU. The SPAC filed confidentially on August 31, 2020. EarlyBirdCapital is the sole bookrunner on the deal.