Mason Industrial Technology, Inc. Completes $500,000,000 Initial Public Offering
February 02 2021 - 11:55AM
Business Wire
Mason Industrial Technology, Inc. (the “Company”), a newly
organized blank check company incorporated in Delaware for the
purpose of effecting a merger, capital stock exchange, asset
acquisition, stock purchase, reorganization or similar business
combination with one or more businesses, today announced the
closing of its initial public offering of 50,000,000 units,
including the issuance of 5,000,000 units as a result of the
underwriters’ exercise of their over-allotment option. Each unit
consists of one share of the Company’s Class A common stock and
one-third of one redeemable warrant. Each whole redeemable 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. The offering
was priced at $10.00 per unit, resulting in gross proceeds of
$500,000,000, before deducting underwriting discounts and
commissions and other offering expenses payable by the Company.
The units began trading on the New York Stock Exchange under the
ticker symbol “MIT.U” on January 29, 2021. Once the securities
comprising the units begin separate trading, the Class A common
stock and warrants are to be listed on the NYSE under the symbols
“MIT” and “MIT.W,” respectively.
Citigroup Global Markets Inc. and Jefferies LLC served as
underwriters for the offering.
The Company is sponsored by Mason Industrial Sponsor, LLC, an
affiliate of Mason Capital Management LLC, a New York based hedge
fund active in public company, private company, event-driven,
credit, shareholder activism and distressed investments. The
Company was formed for the purpose of executing a business
combination in the industrial technology, advanced materials or
specialty chemicals industries.
The offering was made only by means of a prospectus, copies of
which when available may be obtained for free from the U.S.
Securities and Exchange Commission (“SEC”) website,
http://www.sec.gov; Citigroup Global Markets Inc., c/o Broadridge
Financial Solutions, 1155 Long Island Avenue, Edgewood, New York
11717, or by telephone at 1-800-831-9146; or Jefferies LLC, Attn:
Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd
Floor, New York, New York 10022, or by telephone at 1-877-821-7388,
or email: Prospectus_Department@Jefferies.com.
A registration statement relating to the securities was declared
effective by the SEC on January 28, 2021. 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.
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 for the Company’s offering filed with the SEC and the
preliminary prospectus included therein. 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20210202005971/en/
Gasthalter & Co. Jonathan Gasthalter (212) 257-4170
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