Growth Capital Acquisition Corp. Announces Closing of $172.5 Million Upsized Initial Public Offering and Full Exercise of the...
03 Février 2021 - 12:25AM
Growth Capital Acquisition Corp. (NASDAQ: GCACU) ("Growth Capital"
or the "Company") today announced the closing of its initial public
offering of 17,250,000 units, which included 2,250,000 units sold
upon the full exercise of the underwriters’ over-allotment option,
at a price of $10.00 per unit, resulting in total gross proceeds of
$172.5 million. The units commenced trading on the Nasdaq Capital
Market (“Nasdaq”) on January 29, 2021 under the symbol “GCACU”.
Each unit consisted 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 acted as sole book-running
manager for the offering. Roth Capital Partners acted as the
qualified independent underwriter for the offering.
A registration statement relating to the
securities was declared effective by the SEC on January 29, 2021.
The offering was 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 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 anticipated
use of the net proceeds. 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
the final 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 Syllantavosco-CEO &
CFOGrowth Capital Acquisition Corp. Email: inquiries@gcacorp.com
Website: www.gcacorp.com |
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