PALM BEACH, Fla., March 18, 2021 /PRNewswire/ -- AF Acquisition
Corp. (the "Company"), 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, announced today that it priced its initial
public offering of 20,000,000 units at $10.00 per unit. While the Company may pursue an
initial business combination target in any business or industry, it
intends to focus its search on companies in the food and beverage,
health and wellness, beauty, personal care and pet industries. The
Company is led by Chief Executive Officer, Jordan Gaspar, Chief Financial Officer,
Christopher Bradley and President
and Chairman of the Board, Andrew
Scharf.
The units will be listed on the Nasdaq Stock Market (the
"Nasdaq") and will begin trading tomorrow, March 19, 2021, under the ticker symbol "AFAQU."
Each unit consists of one share of the Company's Class A common
stock and one-third of one redeemable warrant, with each whole
warrant entitling the holder thereof to purchase one share of Class
A common stock at a price of $11.50
per share. No fractional warrants will be issued upon separation of
the units and only whole warrants will trade. Once the securities
comprising the units begin separate trading, the shares of Class A
common stock and warrants are expected to be listed on the Nasdaq
under the symbols "AFAQ" and "AFAQW," respectively.
The offering is expected to close on March 23, 2021, subject to customary closing
conditions.
Cowen and Company, LLC is acting as the book-running manager for
the offering. The Company has granted the underwriter a 45-day
option to purchase up to an additional 3,000,000 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 preliminary prospectus relating to the offering and final
prospectus, when available, may be obtained from Cowen and Company,
LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue,
Edgewood, NY, 11717, Attn:
Prospectus Department, email postSaleManualRequests@broadridge.com,
telephone: 833-297-2926.
A registration statement relating to these securities has been
filed with, and declared effective by, the Securities and Exchange
Commission ("SEC") on March 18, 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
thereof. 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 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
Prosek Partners
Forrest Gitlin
fgitlin@prosek.com
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SOURCE AF Acquisition Corp.