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SPAC WODA Corp files for a $100 million IPO, targeting sustainability in fashion

July 28, 2021

WODA Corp, a blank check company targeting businesses providing sustainability solutions to the fashion industry, filed on Wednesday with the SEC to raise up to $100 million.

The Wilmington, DE-based company plans to raise $100 million by offering 10 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, WODA Corp would command a market value of $129 million.

The company is led by Chairman Maurice Scully, the Managing Partner and Head of the Litigation Department of Messrs. M. Scully Advocates & Solicitors, and CEO and Director Daniel Hatton, the founder and CEO of not-for-profit organization Commonwealth Fashion Council. WODA plans to target companies with business and technology solutions to resolve the problems that challenge the business sustainability of key participants in the current global fashion industry including independent fashion designers, fashion week events, and fashion academic institutions.

WODA Corp was founded in 2021 and plans to list on the Nasdaq under the symbol WODA.U. EF Hutton is the sole bookrunner on the deal.