Growth Capital Acquisition Corp. Announces Pricing of Upsized $150 Million Initial Public Offering
29 Enero 2021 - 8:26AM
Growth Capital Acquisition Corp. (NASDAQ: GCACU) ("Growth Capital"
or the "Company") today announced the pricing of its initial public
offering of 15,000,000 units at a price of $10.00 per unit. The
units are expected to begin trading on the Nasdaq Capital Market
(“Nasdaq”) on January 29, 2021 under the symbol “GCACU”. Each unit
consists of one share of 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. 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 traded on the Nasdaq
under the symbols “GCAC” and “GCACW,” respectively. No fractional
warrants will be issued upon separation of the units and only whole
warrants will trade.
Maxim Group LLC is acting as sole book-running
manager for the offering. Roth Capital Partners is acting as the
qualified independent underwriter for the offering.
The Company has granted the underwriters a
45-day option to purchase up to 2,250,000 additional units at the
initial public offering price to cover over-allotments, if any. The
offering is expected to close on February 2, 2021, subject to
customary closing conditions.
A registration statement relating to the
securities was declared effective by the SEC on January 29, 2021.
The offering is being made only by means of a prospectus, copies of
which may be obtained by contacting Maxim Group LLC, 405 Lexington
Avenue, New York, New York 10174. Copies of the registration
statement can be accessed through the SEC's website at
www.sec.gov.
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.
About Growth Capital Acquisition
Corp.
Growth Capital is a Delaware blank check
company, also commonly referred to as a Special Purpose Acquisition
Company (or SPAC), formed for the purpose of entering into a
merger, capital 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 target
business will not be limited to a particular industry or geographic
region. Growth Capital is led by our Co-Chief Executive Officers
Akis Tsirigakis and George Syllantavos and Maxim Group LLC and
received financial backing from HB Strategies LLC, an affiliate of
Hudson Bay Capital Management LP.
Forward-Looking Statements
This press release contains statements that
constitute "forward-looking statements," including the successful
consummation of the 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 offering filed with
the Securities and Exchange Commission ("SEC"). Copies will be
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.
Company Contact: George Syllantavos co-CEO &
CFO Growth Capital Acquisition Corp. Email: inquiries@gcacorp.com
Website: www.gcacorp.com |
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