Arisz Acquisition Corp. Announces Exercise and Closing of Over-Allotment Option in Public Offering
25 November 2021 - 5:33AM
Arisz Acquisition Corp. (“ARIZ”) announced today that the
underwriters of its previously announced public offering of units
have exercised their over-allotment option resulting in the
issuance of an additional 900,000 units.
The units began trading on The Nasdaq Global Market (“NASDAQ”)
under the ticker symbol “ARIZU” on November 18, 2021. Each unit
consists of one share of common stock, one right to receive
one-twentieth (1/20) of one share of common stock upon the
consummation of an initial business combination, and one redeemable
warrant to purchase three-fourths (3/4) of one share of common
stock at a price of $11.50 per whole share. After the securities
comprising the units begin separate trading, the shares of common
stock, rights and warrants are expected to be listed on NASDAQ
under the symbols “ARIZ,” “ARIZR” and “ARIZW,” respectively.
The over-allotment option was granted in connection with the
public offering of 6,000,000 units at a public offering price of
$10.00 per unit, which closed on November 22, 2021.
ARIZ had previously announced the closing of its $60 million
initial public offering on November 22, 2021. With the exercise and
closing of the underwriters' over-allotment option, the total gross
proceeds from ARIZ's initial public offering are $69 million.
Chardan acted as sole book-running manager of the offering.
A registration statement relating to these securities was
declared effective by the U.S. Securities and Exchange Commission
(the “SEC”) on November 17, 2021. The offering was made only by
means of a prospectus, copies of which may be obtained by
contacting Chardan, 17 State Street, 21st Floor, New York, New York
10004, or by calling (646) 465-9001. 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 Arisz Acquisition Corp.
ARIZ is led by founder Echo Hindle-Yang (CEO). ARIZ is a blank
check company formed for the purpose of effecting a merger, stock
exchange, asset acquisition, stock purchase, reorganization or
similar business combination with one or more businesses. Although
there is no restriction or limitation on what industry or
geographic region ARIZ’s target operates in, ARIZ intends to pursue
targets in the healthcare industry. The proceeds of the offering
will be used to fund such business combination.
Cautionary Note Concerning Forward-Looking Statements
This press release includes forward-looking statements that
involve risks and uncertainties. Forward looking statements are
statements that are not historical facts. Such forward-looking
statements, including with respect to the anticipated use of the
proceeds from the Company’s initial public offering and the
Company’s search for an initial business combination, are subject
to risks and uncertainties, which could cause actual results to
differ from the forward-looking statements. ARIZ expressly
disclaims any obligations or undertaking to release publicly any
updates or revisions to any forward-looking statements contained
herein to reflect any change in ARIZ’s expectations with respect
thereto or any change in events, conditions or circumstances on
which any statement is based.
ARIZ Contact:
Echo Hindle-Yang Chief Executive Officer Arisz Acquisition Corp.
+1212-845-9945 hindleyang@ariszacquisition.com
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