Broadscale Acquisition Corp. Announces Pricing of Upsized $300 Million Initial Public Offering
11 Fevereiro 2021 - 7:30PM
Broadscale Acquisition Corp. (the “Company”) today announced the
pricing of its upsized initial public offering of 30,000,000 units
at a price of $10.00 per unit. The units will be listed on The
Nasdaq Capital Market and trade under the ticker symbol “SCLEU”
beginning February 12, 2021. Each unit consists of one share of
Class A common stock of the Company and one-fourth 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 Capital Market
under the symbols “SCLE” and “SCLEW,” respectively. No fractional
warrants will be issued upon separation of the units and only whole
warrants will trade.
The Company is a blank check company 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. The Company intends to focus its
search for a business combination target on opportunities that
align with its mission of “Disruption for Good”-- that is, the
transformation of traditional industries in positive ways that
generate tangible improvements to the well-being of the global
population, particularly with respect to energy, transportation,
buildings, manufacturing, and food and agriculture.
The Company's sponsor is a joint venture of Andrew L. Shapiro's
Broadscale Group and Jonathan Z. Cohen and Edward E. Cohen's HEPCO
Capital Management. The Company is led by Andrew L. Shapiro,
Chairman and Chief Executive Officer; Dan Leff, Senior Operating
Partner; and John Hanna, Chief Financial Officer and Head of
Acquisitions. The team also includes independent directors Lisa
Coca, Andy Karsner, and Georgia Levenson Keohane, as well as senior
advisors Stephan Dolezalek, Ray Lane, and Heather Zichal.
The offering is expected to close on February 17, 2021, subject
to customary closing conditions.
Morgan Stanley is acting as sole book-running manager for the
offering. The Company has granted the underwriter a 45-day option
to purchase on a pro rata basis up to 4,500,000 additional units at
the initial public offering price, less the underwriting discounts
and commissions. The option may be exercised only to cover any
over-allotments of units.
The offering is being made only by means of a prospectus. Copies
of the prospectus may be obtained, when available, from:
Morgan Stanley & Co. LLCAttention: Prospectus Department180
Varick Street, 2nd Floor New York, NY 10014
Registration statements relating to these securities have been
filed with the Securities and Exchange Commission ("SEC") and
became effective on February 11, 2021. 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.
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 Securities and Exchange Commission (“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.
Contacts
Andrew Shapiro Chairman and Chief Executive Officer
ashapiro@broadscalespac.com (646)
849-9977
John Hanna Chief Financial Officer and Head of Acquisitions
jhanna@broadscalespac.com
(917) 941-4273
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