The new company aims to combine with a target in the travel, hospitality, leisure, financial technology (fintech), insurance technology and property technology (proptech) sectors. New Beginnings is led by Chairman Russell W. Galbut and CEO and Director Michael S. Liebowitz.
Total SPAC deal count for 2020 year-to-date is now 167 with $61.68 billion in gross proceeds raised. This offering is expected to close on Tuesday, November 3 2020.
EarlyBirdCapital, Inc. and Ladenburg Thalmann & Co. Inc. are acting as joint book-running managers of the offering. Greenberg Traurig, P.A. is serving as Issuer’s Counsel with Graubard Miller serving as Underwriter’s Counsel. Marcum LLP serves as auditor. Continental Stock Transfer & Trust Company LLC is acting as trustee.