Insight Acquisition Corp. Announces Closing of $240 Million Initial Public Offering
07 Septiembre 2021 - 3:05PM
Insight Acquisition Corp. (NYSE: INAQ.U) (the “Company”) today
announced the closing of its initial public offering of 24,000,000
units at a price of $10.00 per unit. The units are listed on the
New York Stock Exchange (“NYSE”) and commenced trading under the
ticker symbol “INAQ.U” on September 2, 2021. Each unit consists of
one share of Class A common stock and one-half of one redeemable
warrant, with each whole warrant exercisable to purchase one share
of Class A common stock at a price of $11.50 per share. Only whole
warrants will be 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 NYSE under the
symbols “INAQ” and “INAQ WS,” respectively.
Cantor Fitzgerald & Co. acted as the sole book-running
manager for the offering. Odeon Capital Group, LLC acted as lead
manager for the offering. The Company has granted the underwriters
a 45-day option to purchase up to an additional 3,600,000 units at
the initial public offering price to cover over-allotments, if
any.
Of the proceeds received from the consummation of the initial
public offering and a simultaneous private placement of warrants,
$241,200,000 (or $10.05 per unit sold in the public offering) was
placed in trust. An audited balance sheet of the Company as of
September 7, 2021 reflecting receipt of the proceeds upon
consummation of the initial public offering and the private
placement will be included as an exhibit to a Current Report on
Form 8-K to be filed by the Company with the U.S. Securities and
Exchange Commission (the “SEC”).
The offering was made only by means of a prospectus. Copies of
the prospectus relating to this offering may be obtained from
Cantor Fitzgerald & Co., Attention: Capital Markets, 499 Park
Avenue, 5th Floor New York, New York 10022;
Email: prospectus@cantor.com.
A registration statement relating to these securities was
declared effective by the SEC on September 1, 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.
About Insight Acquisition Corp.
Insight Acquisition Corp. is a blank-check company 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 intends to
focus on businesses in the FinTech or financial services industry
with an enterprise value of approximately $750 million to
$1.5 billion, with particular emphasis on businesses that are
providing or changing technology for traditional financial services
(“FinTech”), those in the wealth, investment, asset management and
insurance sectors, or certain types of technology companies that
provide services to the FinTech or financial services
companies. Jeff Gary, a repeat SPAC sponsor, and
Michael Singer, a former Investment Management CEO, lead the
Company. For more information, please visit:
https://www.insightacqcorp.com/.
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. No
assurance can be given that the 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 for the initial public
offering filed with the SEC. Copies are available on the SEC’s
website at 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.
Contact
Cody SlachGateway Investor Relations(949)
574-3860INAQ@gatewayir.com
Insight Acquisition (NYSE:INAQ)
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