Revelstone Capital Acquisition Corp. Announces Closing of $15 Million Over-Allotment Option in Connection with Its Initial Public Offering
14 Enero 2022 - 10:59PM
Business Wire
Revelstone Capital Acquisition Corp. (the “Company” or
“Revelstone”) announced that the underwriters in its initial public
offering partially exercised their over-allotment option and today
purchased an additional 1,500,000 units at $10.00 per unit. The
gross proceeds from the partial option exercise were $15 million
before deducting underwriting discounts and expenses. Each unit
consists of one share of Class A common stock, par value $0.0001
per share, of the Company (“common stock”) and one-half of one
redeemable warrant, with each whole warrant entitling the holder
thereof to purchase one share of common stock at a price of $11.50
per share. Only whole warrants are exercisable.
The total aggregate issuance by the Company of the 16,500,000
units at a price of $10.00 per unit resulted in total gross
proceeds of $165,000,000.
The units have been listed on the Nasdaq Global Market
(“Nasdaq”) and began trading on December 17, 2021, under the ticker
symbol “RCACU”. Once the securities comprising the units begin
separate trading, the shares of common stock and redeemable
warrants are expected to be listed on Nasdaq under the symbols
“RCAC,” and “RCACW,” respectively.
BofA Securities and Roth Capital Partners acted as joint-book
running managers in the offering.
A registration statement relating to these securities was
declared effective by the Securities and Exchange Commission
(“SEC”) on December 16, 2021. The offering was made only by means
of a prospectus, copies of which may be obtained by contacting BofA
Securities at NC1-004-03-43, 200 North College Street, 3rd Floor,
Charlotte, NC 28255-0001, Attention: Prospectus Department, or by
email at dg.prospectus_requests@bofa.com, or Roth Capital Partners,
LLC at 888 San Clemente Drive, Suite 400, Newport Beach, CA 92660,
Attn: Prospectus Department, or by telephone at 800-678-9147.
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 a
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 Revelstone Capital Acquisition Corp.
Revelstone Capital Acquisition Corp. is a blank check company,
also commonly referred to as a special purpose acquisition company,
or SPAC, formed for the purpose of effecting a merger, share
exchange, asset acquisition, share purchase, reorganization or
similar business combination with one or more businesses. It is the
Company’s intention to pursue prospective targets in the consumer,
media and/or technology markets with a focus on the active consumer
landscape.
Forward Looking Statements
This press release contains statements that constitute
“forward-looking statements,” including with respect to the initial
public offering and search for an initial business combination.
Forward-looking statements are statements that are not historical
facts. Such forward-looking statements are subject to risks and
uncertainties, which could cause actual results to differ from the
forward-looking statements. 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
final prospectus for the offering filed with the SEC. The Company
expressly disclaims any obligations or undertaking to release
publicly any updates or revisions to any forward-looking statements
contained herein to reflect any change in the Company’s
expectations with respect thereto or any change in events,
conditions or circumstances on which any statement is based, except
as required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20220114005495/en/
Morgan Callagy Co-Chief Executive Officer Revelstone Capital
Acquisition Corp. 14350 Myford Road Irvine, CA 92606
morgan@revelstonecap.com (949) 428-2888
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