26 Capital Acquisition Corp. Announces Pricing of Upsized $240,000,000 Initial Public Offering
15 January 2021 - 11:55AM
26 Capital Acquisition Corp. (the “Company”) announced today that
it priced its upsized initial public offering of 24,000,000 units
at $10.00 per unit. The units will be listed on the Nasdaq Capital
Market (“Nasdaq”) and will begin trading tomorrow, Friday, January
15, 2021, under the ticker symbol “ADERU.” Each unit consists of
one share of the Company’s Class A common stock and one-half of one
redeemable warrant, each whole warrant entitling the holder thereof
to purchase one share of Class A common stock at a price of $11.50
per share. Only whole warrants are exercisable and will trade.
Once the securities comprising the units begin separate
trading, shares of the Class A common stock and warrants are
expected to be listed on Nasdaq under the symbols “ADER” and
“ADERW,” respectively.
The offering is expected to close on Wednesday,
January 20, 2021, subject to customary closing conditions.
The Company is a 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 the Company may
pursue an initial business combination target in any stage of its
corporate evolution or in any industry or sector, it intends to
concentrate its efforts in identifying high quality businesses in
the gaming and gaming technology, branded consumer, lodging and
entertainment, or Internet commerce sectors. The Company is
led by its Chief Executive Officer, Jason Ader, and its Chief
Financial Officer, John Lewis.
Cantor Fitzgerald & Co. 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
3,600,000 units at the initial public offering price to cover
over-allotments, if any.
The offering is being made only by means of a
prospectus. Copies of the prospectus may be obtained, when
available, from Cantor Fitzgerald & Co., Attention: Capital
Markets, 499 Park Avenue, 5th Floor New York, New York 10022;
Email: prospectus@cantor.com.
A registration statement relating to these
securities has been filed with, and declared effective by, the
Securities and Exchange Commission on January 14, 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 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 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 offering filed with
the Securities and Exchange Commission (“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.
Contacts
Jason AderChief Executive Officer26 Capital Acquisition Corp.
(305) 709-6664
info@springowl.com
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