Cerberus Telecom Acquisition Corp. Announces Pricing of $250 Million Initial Public Offering
21 Octubre 2020 - 7:30PM
Business Wire
Cerberus Telecom Acquisition Corp. (the “Company”) today
announced the pricing of its initial public offering of 25,000,000
units at $10.00 per unit. The units will be listed on the New York
Stock Exchange (“NYSE”) and trade under the ticker symbol “CTAC.U”
beginning on October 22, 2020. Each unit consists of one Class A
ordinary share and one-third of one redeemable warrant, with each
whole warrant entitling the holder thereof to purchase one Class A
ordinary share at a price of $11.50 per share. Once the securities
comprising the units begin separate trading, the Class A ordinary
shares and warrants are expected to be listed on the NYSE under the
symbols “CTAC” and “CTAC WS,” respectively. The initial public
offering is expected to close on October 26, 2020, subject to
customary closing conditions.
The Company is a newly organized, blank check company formed for
the purpose of entering into a merger, share exchange, asset
acquisition, share purchase, reorganization or similar business
combination with one or more businesses. The Company intends to
focus on the information and communications technology (“ICT”)
sector, specifically on companies participating in the 5G
revolution.
Morgan Stanley and Deutsche Bank Securities Inc. are serving as
joint book-running managers for the offering. The Company has
granted the underwriters a 45-day option to purchase up to an
additional 3,750,000 units at the initial public offering price to
cover any over-allotments.
The initial public offering is being made only by means of a
prospectus. When available, copies of the prospectus relating to
the offering may be obtained for free from the U.S. Securities and
Exchange Commission (“SEC”) website www.sec.gov; Morgan Stanley
& Co. LLC, Attention: Prospectus Department, 180 Varick Street,
Second Floor, New York, New York 10014; or Deutsche Bank Securities
Inc., Attn: Prospectus Department, 60 Wall Street, New York, New
York 10005, telephone: 800-503-4611 or email:
prospectus.cpdq@db.com.
A registration statement relating to the securities became
effective on October 21, 2020 in accordance with Section 8(a) of
the Securities Act of 1933, as amended. 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.
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 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.
About Cerberus Telecom Acquisition Corp.
Cerberus Telecom Acquisition Corp. is a newly organized, blank
check company formed by an affiliate of Cerberus Capital
Management, L.P. (“Cerberus”), a global leader in alternative
investing. The Company is led by CEO Tim Donahue, former Executive
Chairman of Sprint Nextel and former CEO of Nextel Communications,
and is proud to have the support of a distinguished advisory board
comprised of senior executives and business leaders from the
information and communications technology (“ICT”) sector.
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version on businesswire.com: https://www.businesswire.com/news/home/20201021006114/en/
For general inquiries: info@cerberusacquisition.com For media
inquiries: media@cerberusacquisition.com
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