Virtuoso Acquisition Corp. Announces Closing of $230,000,000 Initial Public Offering
27 January 2021 - 6:44AM
Virtuoso Acquisition Corp. (the “Company”) announced today that it
closed its initial public offering of 23,000,000 units, including
3,000,000 units issued pursuant to the full exercise by the
underwriters of their over-allotment option. The offering was
priced at $10.00 per unit, resulting in gross proceeds of
$230,000,000.
The Company’s units are listed on the Nasdaq Capital Market
(“Nasdaq”) and commenced trading under the ticker symbol “VOSOU” on
January 22, 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 entitling the holder thereof to purchase one share of
Class A common stock at a price of $11.50 per share. Only whole
warrants are exercisable. 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,
shares of the Class A common stock and warrants are expected to be
listed on Nasdaq under the symbols “VOSO” and “VOSOW,”
respectively.
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 media companies, within the Digital
Marketing, Digital Platforms, Subscription, and Ad Tech sectors.
The Company is led by Chief Executive Officer Jeffrey D. Warshaw
and Chief Financial Officer Michael O. Driscoll. BTIG, LLC and
Moelis & Company LLC acted as joint book-running managers
of the offering. I-Bankers Securities, Inc. acted as
co-manager of the offering.
Of the proceeds received from the consummation of the initial
public offering and a simultaneous private placement of warrants,
$230,000,000 (or $10.00 per unit sold in the public offering) was
placed in the Company’s trust account. An audited balance sheet of
the Company as of January 26, 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 (the “SEC”).
The offering was made only by means of a prospectus. Copies of
the prospectus relating to the offering may be obtained from BTIG,
LLC, at 65 E. 55th Street, New York, NY, 10022, by email
at equitycapitalmarkets@btig.com or by telephone at (212)
593-7555.
A registration statement relating to these securities was
declared effective by the SEC on January 21, 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. 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
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
Jeffrey D. Warshaw Chief Executive Officer
jeff@virtuosoacquisition.com 203 571-6161
Virtuoso Acquisition (NASDAQ:VOSOW)
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