ARLINGTON, Va., Dec. 7, 2020 /PRNewswire/ -- Capitol
Investment Corp. V, a public investment vehicle formed by
Mark D. Ein and L. Dyson Dryden (the "Company"), announced today
the closing of its initial public offering of 34,500,000 units on
December 4, 2020, which included the
full exercise of the underwriters' over-allotment option, at a
price of $10.00 per unit, resulting
in aggregate gross proceeds of $345,000,000. Each unit consists of one share of
the Company's Class A common stock and one third of one warrant,
each whole warrant entitling the holder thereof to purchase one
share of the Company's Class A common stock at an exercise price of
$11.50.
The units trade on the New York Stock Exchange (the "NYSE")
under the symbol "CAP.U." After the securities comprising the units
begin separate trading, the shares of Class A common stock and
warrants are expected to be listed on the NYSE under the symbols
"CAP" and "CAP WS," respectively. No fractional warrants will be
issued upon separation of the units, and only whole warrants will
trade.
The Company was formed for the purpose of effecting a merger,
stock exchange, asset acquisition, stock purchase, reorganization
or similar business combination with one or more businesses or
entities. The Company's efforts to identify a prospective target
business will not be limited to a particular industry or geographic
region.
The Company is led by Chairman and Chief Executive Officer,
Mark D. Ein, and President and Chief
Financial Officer, L. Dyson Dryden.
The Capitol team has raised $1.53
billion in five SPACs since 2007 and closed four SPAC
mergers.
Citigroup Global Markets Inc., Deutsche Bank Securities Inc. and
Morgan Stanley & Co. LLC served as joint book-running managers
of the offering.
A registration statement relating to these securities was
declared effective by the U.S. Securities and Exchange Commission
(the "SEC") on December 1, 2020. The
offering was made only by means of a prospectus, copies of which
may be obtained from Citigroup Global Markets Inc., c/o Broadridge
Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, Telephone: 1-800-831-9146;
Deutsche Bank Securities Inc., 60 Wall Street, New York, NY 10005-2836, Attention: Prospectus
Group, Telephone: (800) 503-4611, Email: prospectus.cpdg@db.com; or
Morgan Stanley & Co. LLC, 180 Varick Street, Second Floor,
New York, New York 10014,
Attention: Prospectus Department, Email:
prospectus@morganstanley.com.
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.
Forward-Looking Statements
This press release includes forward-looking statements.
Forward-looking statements are statements that are not historical
facts. Such forward-looking statements are subject to risks and
uncertainties, 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, any of which could cause actual results to
differ from such forward-looking statements. The Company expressly
disclaims any obligations or undertaking to release publicly any
updates or revisions to any forward-looking statements contained
herein to reflect any change in the Company's expectations with
respect thereto or any change in events, conditions or
circumstances on which any statement is based, except as required
by law.
Contact:
L. Dyson Dryden
President and Chief Financial Officer
Capitol Investment Corp. V
202-654-7060
Media Contact:
Joele Frank, Wilkinson Brimmer
Katcher
Clayton Erwin
212-355-4449
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SOURCE Capitol Investment Corp. V