Item 8.01. Other Events.
On January 12, 2021, Locust Walk Acquisition Corp. (the "Company") consummated
the sale of 17,500,000 units (the "Units") in its initial public offering (the
"IPO"). Each Unit consists of one share of the Company's Class A common stock,
par value $0.0001 per share ("Common Stock"), and one third of one warrant
(each, a "Warrant"), where each whole Warrant entitles the holder to purchase
one share of Common Stock for $11.50 per share, subject to adjustment as
provided in the Company's registration statement on Form S-1, initially filed
with the Securities and Exchange Commission on December 18, 2020 (File
No. 333-251496). The Units were sold in the IPO at an offering price of $10.00
per Unit for gross proceeds of $175,000,000 (before underwriting discounts and
commissions and offering expenses). The Company granted the underwriter in the
IPO (the "Underwriter") a 45-day option to purchase up to 2,295,000 additional
Units solely to cover over-allotments, if any (the "Over-Allotment Option"); and
on January 11, 2021, the Underwriter notified the Company that they were
partially exercising the Over-Allotment Option for 2,200,000 Units and waiving
the remainder of the Over-Allotment Option. As a result of the Underwriter's
determination not to fully exercise the Over-Allotment Option, certain of the
Company's initial stockholders forfeited an aggregate of 23,750 shares of the
Company's Class B common stock.
On January 12, 2021, simultaneously with the consummation of the IPO, the
Company consummated the issuance and sale ("Private Placement") of 545,000 Units
(the "Placement Units") in a private placement transaction at a price of $10.00
per Placement Unit, generating gross proceeds of $5,450,000. The Placement Units
were purchased by the Company's sponsor, Locust Walk Sponsor, LLC.
A total of $175,000,000 of the net proceeds from the IPO and the Private
Placement (which includes approximately $6.6 million of the Underwriter's
deferred discount) were placed in a trust account established for the benefit of
the Company's public stockholders at JP Morgan Chase Bank, N.A., with
Continental Stock Transfer & Trust Company acting as trustee.
An audited balance sheet as of January 12, 2021 reflecting receipt of the
proceeds upon consummation of the IPO and the Private Placement has been issued
by the Company and is included as Exhibit 99.1 to this Current Report on Form
8-K.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No. Description
99.1 Audited balance sheet as of January 12, 2021.
--------------------------------------------------------------------------------
© Edgar Online, source Glimpses
LOCT WALK 
