Clover Leaf Capital Corp. Announces Closing of $138.3 Million Initial Public Offering, Including Partial Exercise of Underwriters’ Over-Allotment Option
23 July 2021 - 5:47AM
Clover Leaf Capital Corp. (Nasdaq: CLOEU) (“Clover Leaf” or the
“Company”) today announced the closing of its initial public
offering of 13,831,230 units at a price of $10.00 per unit,
including 1,331,230 units sold pursuant to the partial exercise of
the underwriters’ over-allotment option, at an offering price of
$10.00 per unit. The units commenced trading on the Nasdaq
Capital Market (“Nasdaq”) under the ticker symbol “CLOEU” on July
20, 2021. Each unit consisted 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 acted as sole book-running manager for the
offering.
A registration statement relating to the securities was declared
effective by the Securities and Exchange Commission (“SEC”) on July
19, 2021. The offering has been 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
anticipated use of the net proceeds of the Company’s initial public
offering (“IPO”) and the Company’s search for an initial business
combination. No assurance can be given 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
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 2520
Miami, FL 33131 www.cloverlcc.com info@cloverlcc.com
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