Equity Distribution Acquisition Corp. Announces Pricing of Upsized $360 Million Initial Public Offering
16 September 2020 - 10:33PM
Business Wire
Equity Distribution Acquisition Corp. (the “Company”), a blank
check company formed for the purpose of entering into a merger,
capital stock exchange, asset acquisition, stock purchase,
reorganization or similar business combination with one or more
businesses, today announced the pricing of its initial public
offering of 36,000,000 units at a price of $10.00 per unit. The
units will be listed on the New York Stock Exchange and trade under
the ticker symbol “EQD.U” beginning September 16, 2020. Each unit
consists of one share of Class A common stock of the Company and
one-third of one warrant. Each whole warrant entitles the holder
thereof to purchase one share of Class A common stock of the
Company at a price of $11.50 per share. Once the securities
comprising the units begin separate trading, the shares of Class A
common stock and warrants are expected to be listed on the New York
Stock Exchange under the symbols “EQD” and “EQD WS,”
respectively.
The offering is expected to close on September 18, 2020, subject
to customary closing conditions.
Credit Suisse Securities (USA) LLC is acting as the sole book
running manager for the offering. The Company has granted the
underwriter a 45-day option to purchase up to 5,400,000 additional
units at the initial public offering price to cover
over-allotments, if any.
The offering is being made only by means of a prospectus. When
available, copies of the prospectus may be obtained from Credit
Suisse Securities (USA) LLC, Attn: Prospectus Department, 6933
Louis Stephens Drive, Morrisville, North Carolina 27560, telephone:
(800) 221-1037 or email: usa.prospectus@credit-suisse.com.
A registration statement relating to the securities became
effective on September 15, 2020 in accordance with Section 8(a) of
the Securities Act of 1933, as amended. 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.
This press release contains statements that constitute
“forward-looking statements,” including with respect to the
proposed initial public offering and the anticipated use of the net
proceeds. No assurance can be given that the offering discussed
above will be completed on the terms described, or at all, or 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 preliminary prospectus for the Company’s offering
filed with the Securities and Exchange Commission (“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.
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version on businesswire.com: https://www.businesswire.com/news/home/20200916005537/en/
For more information, please visit equitydac.com or
contact: Philip Tinkler Chief Financial Officer
ptinkler@egii.com (312) 454-0100
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