Aequi Acquisition Corp. Completes $200,000,000 Initial Public Offering
November 24 2020 - 6:10PM
Aequi Acquisition Corp. (Nasdaq: ARBGU) (the “Company”) today
announced the closing of its initial public offering of 20,000,000
units. The offering was priced at $10.00 per unit, resulting in
gross proceeds of $200,000,000.
The Company’s units began trading on the Nasdaq Stock Market
under the ticker symbol “ARBGU” on Friday, November 20, 2020. Each
unit consists of one share of the Company’s Class A common stock
and one-third of one redeemable warrant. Each whole warrant
entitles the holder thereof to purchase one share of the Company’s
Class A common stock at a price of $11.50 per share. Once the
securities comprising the units begin separate trading, the Class A
common stock and warrants are expected to be listed on the Nasdaq
Stock Market under the symbols “ARBG” and “ARBGW,”
respectively.
The Company is a newly incorporated blank check company formed
for the purpose of effecting a merger, capital stock exchange,
asset acquisition, stock purchase, reorganization or similar
business combination with one or more businesses. The Company is
led by Hope S. Taitz, Chief Executive Officer and Chairperson,
and Joy Seppala, Chief Financial Officer and a Director.
RBC Capital Markets, LLC and BofA Securities, Inc. acted as
joint book-running managers. Samuel A. Ramirez & Company, Inc.
and Siebert Williams Shank & Co., LLC acted as co-managers. The
Company has granted the underwriters a 45-day option to purchase up
to 3,000,000 additional units at the initial public offering price
to cover over-allotments, if any.
Of the proceeds received from the consummation of the initial
public offering and a simultaneous private placement of warrants,
$200,000,000 (or $10.00 per unit sold in the public offering) was
placed in the Company's trust account. An audited balance sheet of
the Company as of November 24, 2020 reflecting receipt of the
proceeds upon consummation of the initial public offering and the
private placement will be included as an exhibit to a Current
Report on Form 8-K to be filed by the Company with the Securities
and Exchange Commission (the “SEC”).
Ellenoff Grossman & Schole LLP acted as counsel to the
Company and Skadden, Arps, Slate, Meagher & Flom LLP acted as
counsel to the underwriters.
The initial public offering was made only by means of a
prospectus. Copies of the prospectus relating to the offering may
be obtained from RBC Capital Markets, LLC, 200 Vesey Street, 8th
Floor, New York, NY 10281-8098; Attention: Equity Syndicate; by
telephone at 877-822-4089 or by email at
equityprospectus@rbccm.com; and BofA Securities, Inc.,
NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte, NC
28255-0001; Attention: Prospectus Department; by telephone at
800-294-1322 or by email at dg.prospectus_requests@bofa.com.
A registration statement relating to the securities sold in the
initial public offering was filed with, and declared effective
by, the SEC on Thursday, November 19, 2020. This press release
shall not constitute an offer to sell or the solicitation of an
offer to buy, nor shall there be any sale of these securities in
any state or jurisdiction in which such offer, solicitation, or
sale would be unlawful prior to registration or qualification under
the securities laws of any such state or jurisdiction. The
securities sold in the private placement have not been registered
under the Securities Act of 1933, as amended, and may not be
offered or sold in the United States absent registration or an
applicable exemption from such registration requirements and
applicable state securities laws.
Cautionary Note Concerning Forward-Looking Statements
This press release contains statements that constitute
“forward-looking statements,” including with respect to the initial
public offering and the anticipated use of the net proceeds
thereof. Forward-looking statements are subject to numerous
conditions, many of which are beyond the control of the Company,
including those set forth in the Risk Factors section of the
Company’s registration statement and prospectus for the Company’s
offering filed with the SEC. Copies are available on the SEC’s
website, www.sec.gov. The Company undertakes no obligation to
update these statements for revisions or changes after the date of
this release, except as required by law.
Contact
Hope S. Taitz Aequi Acquisition Corp. 500 West Putnam Avenue,
Suite 400 Greenwich, CT 06830 Telephone: (917) 297-4075
Aequi Acquisition (NASDAQ:ARBG)
Historical Stock Chart
From May 2024 to Jun 2024
Aequi Acquisition (NASDAQ:ARBG)
Historical Stock Chart
From Jun 2023 to Jun 2024