UAE - Mubasher: Blue Whale Acquisition Corp I, sponsored by Mubadala Capital, has set the pricing of its initial public offering (IPO) of 20 million units at $10 per unit on the Nasdaq Capital Market in the US.

The businesses of Blue Whale Acquisition focus on a merger, share exchange, asset acquisition, share purchase, reorganisation, or business combination with one or more businesses in the media, entertainment, and technology industries, according to a press release on Wednesday.

Each unit offered for sale consists of one Class A ordinary share and one-fourth of one warrant to purchase one Class A ordinary share for $10 per unit.

MIC Capital Partners (Public) Parallel Cayman, the direct parent of the sponsor, has agreed to enter into a forward purchase agreement that will provide for the purchase of up to $50 million forward purchase units, each consisting of one Class A ordinary share.

MIC Capital Partners (Public) Parallel Cayman has also committed to buying 2 million units of the 20 million public shares sold in this offering at the price of $10.00 per unit.

Goldman Sachs & Co and BofA Securities are acting as book-running managers in the offering.