Evo Acquisition Corp. Announces Closing of Upsized $125,005,000 Initial Public Offering Including Full Exercise of the Over-A...
12 February 2021 - 10:29AM
Evo Acquisition Corp. (the “Company”) (NASDAQ: EVOJU), announced
the closing of its upsized initial public offering of 12,500,500
units, at $10.00 per unit, including 1,630,500 units pursuant to
the full exercise of the underwriters’ over-allotment option. The
offering was priced at $10.00 per unit, resulting in gross proceeds
of $125,005,000.
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 business or industry, it
intends to focus its search on companies in the technology and
financial sectors, including companies with a nexus to Japan. The
Company is led by its Chairman, Michael Lerch, its Chief Executive
Officer, Richard Chisholm, and its Chief Financial Officer, Adrian
Brindle.
The Company’s units began trading on the Nasdaq Capital Market
(“Nasdaq”) under the ticker symbol “EVOJU” on February 9, 2021.
Each unit issued in the offering 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 an exercise price of
$11.50 per share. No fractional warrants will be issued upon
separation of the units and only whole warrants will trade. After
the securities comprising the units begin separate trading, the
shares of Class A common stock and warrants are expected to be
listed on NASDAQ under the symbols “EVOJ” and “EVOJW,”
respectively.
B. Riley Securities, Inc. and SMBC Nikko Securities America,
Inc. acted as book-running managers of the offering.
Of the proceeds received from the consummation of the initial
public offering and a simultaneous private placement of warrants,
$125,005,000 (or $10.00 per unit sold in the public offering) was
placed in the Company’s trust account. An audited balance sheet as
of February 11, 2021, reflecting receipt of the proceeds upon
consummation of the initial public offering and the private
placement will be included as an exhibit to a Current Report on
Form 8-K to be filed by the Company with the Securities and
Exchange Commission (“SEC”).
The offering was made only by means of a prospectus. Copies of
the prospectus relating to the offering may be obtained from B.
Riley Securities, Inc. at 1300 17th Street N., Suite 1400, Attn:
Syndicate Prospectus Department, Arlington, Virginia 22209, by
telephone at (800) 846-5050 or by email at
prospectuses@brileyfin.com; and from SMBC Nikko by email at
prospectus@smbcnikko-si.com.
A registration statement relating to these securities has been
filed with the SEC, and was declared effective by the SEC on
February 8, 2021. An additional registration statement was
filed with the SEC with respect to the upsized offering. 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 search
for an initial business combination and the anticipated use of the
net proceeds. 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 with respect to 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
Richard Chisholm Chief Executive Officer Evo Acquisition
Corp.info@evospac.com | 775.624.9360
Evo Acquisition (NASDAQ:EVOJW)
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