Cetus Capital Acquisition Corp. Announces Pricing of $50,000,000 Initial Public Offering
January 31 2023 - 3:39PM
Cetus Capital Acquisition Corp. (the "Company") announced today
that it priced its initial public offering of 5,000,000 units at
$10.00 per unit. The units will be listed on the Nasdaq Capital
Market ("Nasdaq") and will begin trading on Wednesday, February 1,
2023, under the ticker symbol "CETUU". Each unit consists of one
share of the Company’s Class A common stock, one redeemable
warrant, and one right. Each 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. Each right entitles the holder thereof to
receive one-sixth (1/6) of one share of Class A common stock upon
consummation of the Company’s initial business combination. Once
the securities comprising the units begin separate trading, the
Class A common stock, warrants and rights will be listed on Nasdaq
under the symbols “CETU”, “CETUW” and “CETUR”, respectively.
The Company is a blank check company
incorporated 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 has not selected any specific business combination target
and has not, nor has anyone on its behalf, engaged in any
substantive discussions, directly or indirectly, with any business
combination target. Although the Company’s efforts to identify a
target business will not be limited to any particular industry or
geographic region, the Company will not consider or undertake a
business combination with an entity or business that is based in,
or that has its principal or a majority of its business operations
(either directly or through any subsidiaries) in, the People’s
Republic of China, including Hong Kong and Macau, and we will not
consummate our initial business combination with an entity or
business with China operations consolidated through a variable
interest entity (“VIE”) structure. However, the Company intends to
focus its search for a target business in the industrials,
information technology and Internet-of-Things industries with an
intention to initially prioritize Taiwan. The Company is led by
Chung-Yi Sun, the Company’s Chief Executive Officer, President and
Chairman of the Board of Directors.
EF Hutton, division of Benchmark Investments,
LLC, is acting as the sole book running manager for the offering.
The Company has granted the underwriters a 45-day option to
purchase up to an additional 750,000 units at the initial public
offering price to cover over-allotments, if any. The offering is
expected to close on February 3, 2023, subject to customary closing
conditions.
Pryor Cashman LLP is serving as legal counsel to
the Company. Sichenzia Ross Ference LLP is serving as counsel to EF
Hutton, division of Benchmark Investments, LLC.
The offering is being made only by means of a
prospectus. Copies of the prospectus may be obtained, when
available, from EF Hutton, division of Benchmark Investments, LLC,
Attn: Syndicate Department, 590 Madison Ave., 39th Floor, New York,
New York 10022, by telephone at (212) 404-7002, by fax at (646)
861-4697, or by email at syndicate@efhuttongroup.com. Copies of the
registration statement can be accessed through the SEC's website at
www.sec.gov.
A registration statement relating to these
securities has been filed with, and declared effective by, the
Securities and Exchange Commission ("SEC") on January 31, 2023. A
final prospectus relating to this offering will be filed with the
SEC. 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 an
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state or
jurisdiction.
FORWARD-LOOKING STATEMENTS
This press release contains statements that
constitute "forward-looking statements," including with respect to
the Company’s initial public offering. No assurance can be given
that the offering discussed above will be completed on the terms
described, or at all. 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 preliminary prospectus for
the 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.
Company Contact:Chung-Yi SunChief Executive
OfficerEmail: jack.cy.sun@cetuscorp.com
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