PMV Consumer Acquisition Corp. Announces Closing of $175 Million Initial Public Offering
24 Septiembre 2020 - 3:13PM
Business Wire
PMV Consumer Acquisition Corp. (NYSE: PMVC.U) (the “Company”) announced today that it closed its
initial public offering of 17,500,000 units. The offering was
priced at $10.00 per unit resulting in gross proceeds of
$175,000,000.
The units are listed on the New York Stock Exchange (the
“NYSE”) under the symbol “PMVC.U”.
Each unit consists of one share of the Company’s Class A common
stock, $0.0001 par value per share (“Class A
Common Stock”), and one-half of one redeemable warrant
(“Warrant”) with each whole Warrant
entitling the holder 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 Class A Common Stock and Warrants
are expected to be traded on the NYSE under the symbols “PMVC”, and
“PMVC WS”, respectively. No fractional warrants will be issued upon
separation of the units and only whole warrants will trade.
Of the proceeds received from the consummation of the initial
public offering and a simultaneous private placement of warrants,
$175,000,000 (or $10.00 per unit sold in the public offering) was
placed in trust. An audited balance sheet of the Company as of
September 24, 2020 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 Securities and
Exchange Commission.
UBS Investment Bank and BTIG, LLC acted as joint-book-running
managers of the offering. The Company has granted the underwriters
a 45-day option from the date of the final prospectus to purchase
up to an additional 2,625,000 units to cover over-allotments, if
any.
A registration statement relating to these securities was
declared effective by the U.S. Securities and Exchange Commission
on September 21, 2020. The offering was made only by means of a
prospectus, copies of which may be obtained by contacting UBS
Securities LLC, Attn: Prospectus Department, 1285 Avenue of the
Americas, New York, NY 10019, or by telephone at (888) 827-7275, or
by e-mail at olprospectusrequest@ubs.com; or BTIG,
LLC, 65 East 55th Street, New York, NY 10022, or by e-mail at
equitycapitalmarkets@btig.com. 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 PMV Consumer Acquisition Corp.
PMV Consumer Acquisition Corp. is a blank check company
organized for the purpose of effecting a merger, share exchange,
asset acquisition, share purchase, reorganization, or other similar
business combination with one or more businesses or entities. The
Company’s efforts to identify a prospective target business will
not be limited to any particular industry or geographic region,
although the Company initially intends to focus on target
businesses in the consumer industry with enterprise valuations in
the range of $200 million to $3.5 billion.
Forward Looking Statements
This press release includes forward-looking statements that
involve risks and uncertainties. Forward looking statements are
statements that are not historical facts. Such forward-looking
statements, including with respect to the initial public offering,
the anticipated use of the proceeds thereof and the search for an
initial business combination, are subject to risks and
uncertainties, which could cause actual results to differ from the
forward looking statements, including those set forth in the risk
factors section of the prospectus used in connection with the
Company’s initial public offering. 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. 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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Peter D. Goldstein Executive Vice President and Secretary
(561) 318-3766
PMV Consumer Acquisition (NYSE:PMVC.U)
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