ATLANTA, Oct. 13, 2021 /PRNewswire/ -- Tristar Acquisition
I Corp. (the "Company"), today announced the pricing of its initial
public offering of 20,000,000 units at a price of $10.00 per unit. The units are expected to be
listed on the New York Stock Exchange and trade under the ticker
symbol "TRIS.U" beginning tomorrow. Each unit consists of one share
of the Company's Class A common stock and one-half of one
redeemable warrant. Each whole warrant entitles the holder thereof
to purchase one share of Class A common stock at a price of
$11.50 per share. Once the securities
comprising the units begin separate trading, the Company expects
that its Class A common stock and warrants will be listed on the
New York Stock Exchange under the symbols ''TRIS'' and ''TRIS.WS,''
respectively.
The Company was 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. The Company's efforts to identify a prospective target
business will not be limited to a particular industry or geographic
region, although it intends to focus on businesses related to
telecommunications, technology, or related businesses. Navigation
Capital Partners, Inc. is a member of the Company's sponsor group.
Additionally, Cable One, Inc. (NYSE:CABO) will be a strategic
investor, and has agreed to purchase 9.9% of the units in the
offering, subject to allocation by the underwriters.
Wells Fargo Securities, LLC is acting as sole book-running
manager and Loop Capital Markets LLC is acting as co-manager. The
Company has granted the underwriters a 45-day option to purchase up
to 3,000,000 additional units at the initial public offering price
to cover over-allotments, if any.
The public offering is being made only by means of a prospectus.
When available, copies of the prospectus relating to the offering
may be obtained from Wells Fargo Securities, LLC, 500 West 33rd
Street, New York, NY 10001,
Attn: Equity Syndicate Department, at 800-326-5897, or emailing a
request to cmclientsupport@wellsfargo.com.
A registration statement relating to the securities became
effective on October 13, 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 offer,
solicitation, or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
The offering is expected to close on October 18, 2021,
subject to customary closing conditions.
Forward-Looking Statements
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 thereof. 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
U.S. Securities and Exchange Commission (the "SEC"). Copies of
these documents 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.
About Tristar Acquisition I Corp.
Tristar Acquisition
I Corp. is a special purpose acquisition company ("SPAC") focused
on the telecommunications industry, and is seeking to partner with
a company that unlocks opportunity at the intersection of
connectivity and telecom infrastructure, while addressing the
urgent need for network improvement and expansion. The Company aims
to effect a merger, share exchange, asset acquisition, share
purchase, recapitalization, reorganization or similar business
combination with one or more businesses or entities in the
telecommunications space. Tristar is led by Billy Mounger, who brings more than 35 years of
industry experience building and leading wireless and
telecommunication companies. The Tristar management team and board
combines extensive telecom industry experience with deep expertise
in mergers and acquisitions. For more information, visit
tristaracq.com.
Contact:
Prosek Partners
Amalia Lytle / Aidan O'Connor / Alex
Jorgensen
Tristar@prosek.com
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SOURCE Tristar Acquisition I Corp.