Recharge Acquisition Corp. Announces Closing of $200,000,000 Initial Public Offering
05 Outubro 2020 - 5:00PM
Recharge Acquisition Corp. (NASDAQ: RCHGU) (the “Company”)
announced today that it closed its initial public offering of
20,000,000 units. The offering was priced at $10.00 per unit,
resulting in gross proceeds of $200,000,000. The Company granted
the underwriters in the initial public offering, a 45-day option to
purchase up to 3,000,000 additional units solely 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 “RCHGU” on October 1, 2020. Each unit consists of one share
of the Company’s Class A common stock and one-half of one
redeemable warrant, each whole warrant entitling the holder thereof
to purchase one share of Class A common stock at a price of $11.50
per share. Only whole warrants are exercisable and will trade.
Once the securities comprising the units begin separate
trading, shares of the Class A common stock and warrants are
expected to be listed on Nasdaq under the symbols “RCHG” and
“RCHGW,” respectively.
The Company 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. While the Company may
pursue an initial business combination target in any business or
industry, it intends to focus its search on companies in the
convenience store industry. The Company is led by Chairman, Rajesh
Soin, Chief Executive Officer, Anthony Kenney, and Chief
Financial Officer, Michael Gearhardt.
Raymond James & Associates, Inc. and EarlyBirdCapital, Inc.
are acting as the joint book running managers for the offering
Of the proceeds received from the consummation of the initial
public offering and a simultaneous private placement of warrants,
$202,000,000 (or $10.10 per unit sold in the public offering)
was placed in the Company’s trust account. An audited balance sheet
of the Company as of October 5, 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 “SEC”).
The offering was made only by means of a
prospectus. Copies of the prospectus may be obtained from: Raymond
James & Associates, Inc., 880 Carillon Parkway, St. Petersburg,
Florida 33716, Attention: Equity Syndicate, 1-800-248-8863,
prospectus@raymondjames.com; or from EarlyBirdCapital, Inc., 366
Madison Avenue, 8th Floor, New York, NY 10017, Attn: Syndicate
Department, 212-661-0200.
A registration statement relating to these
securities was declared effective by the SEC on September 30,
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. 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.
Contact
Anthony Kenney Recharge Acquisition Corp. (937)
610-4057
Recharge Acquisition (NASDAQ:RCHGU)
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