Sports Ventures Acquisition Corp. Announces Pricing of $200 Million Initial Public Offering
06 Janvier 2021 - 2:39AM
Sports Ventures Acquisition Corp. (the “Company”) announced today
the pricing of its initial public offering of 20,000,000 units at a
price of $10.00 per unit. The units will be listed on The Nasdaq
Capital Market (the “Nasdaq”) and trade under the ticker symbol
“AKICU” beginning on January 6, 2021. Each unit consists of one
Class A ordinary share and one-third of one redeemable warrant,
with each whole warrant exercisable to purchase one Class A
ordinary share at a price of $11.50 per share. After the securities
comprising the units begin separate trading, the Class A ordinary
shares and warrants are expected to be listed on Nasdaq under the
symbols “AKIC” and “AKICW,” respectively. The offering is expected
to close on January 8, 2021.
Sports Ventures Acquisition Corp. is a blank check company
incorporated for the purpose of effecting a merger, share exchange,
asset acquisition, share purchase, reorganization or similar
business combination with one or more businesses. While the Company
may pursue a business combination target in any business or
industry, the Company intends to focus its search on companies with
operations or prospective operations in the sports, media and
entertainment sectors. The Company is led by Chief Executive
Officer, Alan Kestenbaum, Chief Financial Officer and President,
Robert Tilliss, and Chief Operating Officer, Daniel Strauss.
Deutsche Bank Securities Inc. is acting as sole book running
manager of the offering. The Company has granted the underwriter a
45-day option to purchase up to an additional 3,000,000 units at
the initial public offering price to cover over-allotments, if
any.
A registration statement relating to these securities was
declared effective by the U.S. Securities and Exchange Commission
(the “SEC”) on January 5, 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.
The offering is being made only by means of a prospectus. When
available, copies of the prospectus relating to this offering may
be obtained from Deutsche Bank Securities Inc., Attn: Prospectus
Department, 60 Wall Street, New York, NY 10005, by telephone at
800-503-4611 or by email prospectus.cpdg@db.com.
Cautionary Note Concerning 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 offering discussed
above will be completed on the terms described, or at all, or 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, 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 Daniel StraussSports Ventures
Acquisition Corp. 786-650-0074contact@sportsventuresacq.com
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