NEW
YORK, May 17, 2022 /PRNewswire/ -- Prime
Number Acquisition I Corp. (the "Company"), a newly organized
blank check company incorporated as a Delaware corporation and led by Chairman and
Chief Executive Officer, Dongfeng
Wang, today announced the closing of its previously
announced initial public offering of 6,450,000 units at an offering
price of $10.00 per unit, which
includes 450,000 units issued pursuant to the partial exercise of
the underwriter's over-allotment option, for aggregate gross
proceeds to the Company of $64,500,000. Each unit consists of one share of
Class A Common Stock, one-half of one redeemable warrant, and one
right. Each whole warrant entitles the holder thereof to purchase
one share of Class A Common Stock, and each eight rights entitle
the holder thereof to receive one share of Class A Common Stock
upon consummation of an initial business combination. The exercise
price of the warrants is $11.50 per
full share. The units began trading on the Nasdaq Global Market
("Nasdaq") under the ticker symbol "PNACU" on May 13, 2022. Once the securities comprising the
units begin separate trading, the Class A Common Stock, warrants
and rights are expected to be traded on Nasdaq under the symbols
"PNAC," "PNACW," and "PNACR," respectively. No fractional warrants
will be issued upon separation of the units and only whole warrants
will be traded.
Prime Number Capital, LLC and WestPark Capital, Inc. were Joint
Book Running Managers for the
Offering.
A registration statement on Form S-1 (File No. 333-262457)
relating to the securities sold in the initial public offering was
declared effective by the U.S. Securities and Exchange Commission
(the "SEC") on May 12, 2022. The
offering has been made only by means of a prospectus, copies of
which may be obtained by accessing
the SEC's website, www.sec.gov.
This press release shall not constitute an offer to sell or a
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.
About Prime Number Acquisition I Corp.
Prime Number Acquisition I Corp.is a blank check company, also
commonly referred to as a special purpose acquisition company, or
SPAC, formed for the purpose of effecting a merger, share exchange,
asset acquisition, share purchase, reorganization or similar
business combination with one or more businesses or
entities, provided that it will not
undertake its initial business combination with any entity being
based in or having the majority of the company's operations in
China (including Hong Kong and Macau). None of its founders or the Company is
affiliated with Prime Number Capital LLC.
Forward-Looking Statements
This press release contains statements that constitute
"forward-looking statements," including with respect to the
Company's initial public offering ("IPO") and search for an initial
business combination. 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 Prime Number Acquisition I Corp., including
those set forth in the Risk Factors section of Prime Number
Acquisition I Corp.'s registration statement and prospectus for the
IPO filed with the SEC. Copies are available on the SEC's website,
www.sec.gov. Prime Number Acquisition I Corp. 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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SOURCE Prime Number Acquisition I Corp.