Clover Leaf Capital Corp. Announces Pricing of $125.0 Million Initial Public Offering
July 19 2021 - 5:53PM
Clover Leaf Capital Corp. (Nasdaq: CLOEU) (“Clover Leaf” or the
“Company”) today announced the pricing of its initial public
offering of 12,500,000 units at a price of $10.00 per unit. The
units are expected to be listed on the Nasdaq Capital Market
(“Nasdaq”) and trade under the ticker symbol “CLOEU” beginning July
20, 2021. Each unit consists of one share of Class A common stock
and one right to receive one-eighth (1/8) of one share of Class A
common stock upon the consummation of the Company’s initial
business combination. Once the securities comprising the
units begin separate trading, the shares of Class A common stock
and rights are expected to be traded on the Nasdaq under the
symbols “CLOE” and “CLOER,” respectively.
Maxim Group LLC is acting as sole book-running
manager for the offering.
The Company has granted the underwriters a
30-day option to purchase up to 1,875,000 additional units at the
initial public offering price to cover over-allotments, if any. The
offering is expected to close on July 22, 2021, subject to
customary closing conditions.
A registration statement relating to the
securities was declared effective by the SEC on July 19, 2021. The
offering is being made only by means of a prospectus, copies of
which may be obtained by contacting Maxim Group LLC, 300 Park
Avenue, 16th Floor, New York, New York 10022. Copies of the
registration statement can be accessed through the SEC’s website at
www.sec.gov.
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.
About Clover Leaf Capital Corp.
Clover Leaf Capital Corp. is a newly organized
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. While it may pursue an initial business combination
target in any business, industry or geographical location, it
intends to focus its search on target businesses in the cannabis
industry that are compliant with all applicable laws and
regulations within the jurisdictions in which they are located or
operate.
Forward-Looking Statements
This press release contains statements that
constitute “forward-looking statements,” including with respect to
the proposed initial public offering and the anticipated use of the
net proceeds. No assurance can be given that the offering discussed
above will be completed on the terms described, or at all, or that
the net proceeds of the offering will be used as indicated.
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 Company’s offering
filed with the SEC. Copies of these documents 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:
Clover Leaf Capital Corp.1450 Brickell Avenue, Suite 2520Miami,
FL 33131www.cloverlcc.cominfo@cloverlcc.com
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