IAMI--(BUSINESS WIRE)--New Beginnings Acquisition Corp. announced today that it has closed its initial public offering of 10,000,000 units at a price of $10.00 per unit. The units are listed on NYSE American and began trading under the ticker symbol "NBA.U" on October 30, 2020. Each unit consists of one share of common stock and one redeemable warrant exercisable to purchase one share of common stock at a price of $11.50 per share. After the securities comprising the units begin separate trading, the shares of common stock and warrants are expected to be listed on the NYSE American under the symbols "NBA" and "NBA WS," respectively.

New Beginnings Acquisition Corp. is a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. Although the Company may pursue a target business in any industry or sector, and in any geographic region, the Company intends to initially focus on companies in the travel, hospitality, leisure, financial technology (fintech), insurance technology and property technology (proptech) sectors. The Company is led by Chairman Russell W. Galbut, co-founder and Managing Principal of Crescent Heights, and Chief Executive Officer and Director Michael S. Liebowitz, who serves as a Managing Director and Executive Vice President of Alliant Insurance Services, Inc.