Arena Fortify Acquisition Corp. Announces Pricing of $150 Million Initial Public Offering
2021年11月10日 - 10:48AM
Arena Fortify Acquisition Corp. (the “Company”), a blank check
company sponsored by Arena Fortify Sponsor LLC and 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, today announced the
pricing of its initial public offering of 15,000,000 units at a
price of $10.00 per unit. The units will be listed on The Nasdaq
Global Market and trade under the ticker symbol “AFACU” beginning
on November 10, 2021. Each unit consists of one share of Class A
common stock of the Company and one-half of one redeemable 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, subject to adjustment, and only whole warrants are
exercisable. 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 Nasdaq Global Market under the
symbols “AFAC” and “AFACUW,” respectively. No fractional warrants
will be issued upon separation of the units and only whole warrants
will trade.
Cowen and Company, LLC (“Cowen”) and Intrepid
Partners, LLC (“Intrepid” and, together with Cowen, the
“Underwriters”) are acting as joint book-running managers for the
offering. The Company has granted the Underwriters a 45-day option
to purchase up to 2,250,000 additional units at the initial public
offering price, less the underwriting discounts and commissions.
The option may be exercised only to cover any over-allotment of
units.
The offering is being made only by means of a
prospectus, copies of which may be obtained from Cowen and Company,
LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue,
Edgewood, NY 11717, Attn: Prospectus Department, by telephone:
(833) 297-2926 or by email:
PostSaleManualRequests@broadridge.com.
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
15, 2021, subject to customary closing conditions.
About Arena Fortify Acquisition Corp.
Arena Fortify Acquisition Corp., led by Daniel
B. Zwirn, 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 with a focus on acquisition candidates
that have either recently emerged from bankruptcy court protection
or will require incremental capital as part of a balance sheet
restructuring within the broad natural resources industry.
Forward-Looking Statements
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 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:Parag Shah pshah@arenaco.com
Arena Fortify Acquisition (NASDAQ:AFACU)
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Arena Fortify Acquisition (NASDAQ:AFACU)
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