Seaport Calibre Materials Acquisition Corp. Announces Pricing of $130 Million Initial Public Offering
28 October 2021 - 9:30AM
Seaport Calibre Materials Acquisition Corp. (the “Company”) today
announced the pricing of its initial public offering of 13,000,000
units at a price of $10.00 per unit. The units are expected to be
listed for trading on the Nasdaq Global Market under the ticker
symbol “SCMAU” beginning October 28, 2021. Each unit consists of
one share of the Company’s Class A common stock and one-half of one
redeemable warrant. Each whole warrant entitles the holder thereof
to purchase one share of Class A common stock at a price of $11.50
per share. Once the securities comprising the units begin separate
trading, the Company expects that its Class A common stock and
warrants will be listed on the Nasdaq Global Market under the
symbols ‘‘SCMA’’ and ‘‘SCMAW’’ respectively.
The Company was 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. Although the Company’s efforts to identify a
prospective business combination opportunity will not be limited to
a particular industry, it intends to focus on businesses in the
steel, metals, and metals processing sector.
Seaport Global Securities LLC is acting as sole book-running
manager. The Company has granted the underwriters a 45-day option
to purchase up to 1,950,000 additional units at the initial public
offering price to cover over-allotments, if any.
The public offering is being made only by means of a prospectus.
When available, copies of the prospectus relating to the offering
may be obtained from Seaport Global Securities LLC, c/o
asalvatore@seaportglobal.com.
A registration statement relating to the securities was declared
effective by the U.S. Securities and Exchange Commission (the
“SEC”) on October 27, 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 offer, solicitation, or sale would be unlawful prior
to registration or qualification under the securities laws of any
such state or jurisdiction. The offering is expected to close on
November 1, 2021 subject to customary closing conditions.
Forward-Looking Statements
This press release contains statements that constitute
“forward-looking statements,” including with respect to the
proposed initial public offering and the Company’s plans with
respect to the target industry for a potential business
combination. No assurance can be given that the offering discussed
above will be completed on the terms described, or at all, or that
the Company will ultimately complete a business combination
transaction. 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 of these documents
are available on the SEC’s website, at 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:Seaport Calibre Materials Acquisition
Corp.412-756-0069
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