Burgundy Technology Acquisition Corp. Announces Closing of $300 Million Initial Public Offering
31 Agosto 2020 - 1:37PM
Business Wire
Burgundy Technology Acquisition Corporation (the “Company”),
which is co-founded and led by tech industry veterans Léo Apotheker
and Jim Mackey, announced today that it closed its initial public
offering of 30,000,000 units. The offering was priced at $10.00 per
unit, resulting in gross proceeds of $300,000,000. The underwriters
have been granted a 45-day option to purchase up to an additional
4,500,000 units offered by the Company to cover over-allotments, if
any.
The Company’s units are listed on the Nasdaq Capital Market
(“Nasdaq”) and commenced trading under the ticker symbol “BTAQU” on
August 27, 2020. Each unit consists of one of the Company’s Class A
ordinary shares and one-half of one redeemable warrant, each whole
warrant entitling the holder thereof to purchase one Class A
ordinary share at a price of $11.50 per share. Only whole warrants
will trade and are exercisable. Once the securities comprising the
units begin separate trading, the Class A ordinary shares and
warrants are expected to be traded on Nasdaq under the symbols
“BTAQ” and “BTAQW,” respectively.
Mr. Apotheker, the former CEO of German software company SAP SE
and The Hewlett-Packard Company, serves as Chairman and Co-CEO of
the Company. Mr. Mackey, who previously worked as a Managing
Director, Chairman of Software, Technology Investment Banking team
at Citigroup and held senior leadership roles at SAP SE, OpenText
and BlackBerry, serves as Co-CEO and CFO. The Company is formed for
the purpose of effecting a merger, share 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 on public and private opportunities
in the technology sector, particularly companies in enterprise
software or technology-enabled services.
Mizuho Securities USA LLC (“Mizuho”) acted as the global
coordinator and sole book-running manager for the offering.
I-Bankers Securities, Inc. acted as co-manager. Of the proceeds
received from the consummation of the initial public offering and a
simultaneous private placement of warrants, $301,500,000 (or $10.05
per unit sold in the public offering) was placed in trust. An
audited balance sheet of the Company as of August 31, 2020
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 offering was made only by means of a prospectus. Copies of
the prospectus may be obtained from Mizuho Securities USA LLC,
Attention: Equity Capital Markets, 1271 Avenue of the Americas, New
York 10020; Telephone: 212-205-7600.
A registration statement relating to these securities has been
filed with, and declared effective by, the Securities and Exchange
Commission (the “SEC”) on August 26, 2020. 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20200831005601/en/
Media Contacts Paul Holmes Paul.Holmes@finsbury.com
Nidaa Lone Nidaa.Lone@finsbury.com
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