GSR II Meteora Acquisition Corp. Announces the Closing of its $316M Initial Public Offering, Including Fully-Exercised Over-Allotment Option
02 Mars 2022 - 12:10AM
Business Wire
GSR II Meteora Acquisition Corp. (“GSRM” or the “Company”)
announced today that it closed its initial public offering of
31,625,000 units at a price of $10.00 per unit for aggregate gross
proceeds of $316,250,000. The offering size reflects the full
exercise of the underwriter’s over-allotment option. Each unit sold
consists of one share of Class A common stock, one warrant to
purchase a share of Class A common stock at a per share exercise
price of $11.50 and one-sixteenth of a right to receive a share of
Class A common stock.
GSRM is a newly incorporated, 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. While the Company may
pursue an initial business combination target in any business or
industry, it intends to focus on high-growth businesses in the
software, technology-enabled manufacturing and services, mobility
and transportation sectors, as well as companies that help to
address evolving environmental, social and governance related
issues. This includes, but is not limited to, companies that are
focused on: automation components and systems, robotics, mobility
and autonomous motion, additive manufacturing, next-generation
transportation and technologies for clean food, water and air. GSRM
is led by co-CEOs Gus Garcia and Lewis Silberman, President Anantha
Ramamurti and CFO Joseph Tonnos. The Company was formed in
partnership with Meteora Capital, an investment adviser
specializing in SPAC-related investments.
The units are listed on the Nasdaq Global Market (“Nasdaq”) and
began trading under the ticker symbol “GSRMU” on February 25, 2022.
Once the securities comprising the units begin separate trading,
the Class A common stock, warrants and rights are expected to be
listed on the Nasdaq under the symbols “GSRM,” “GSRMW” and “GSRMR,”
respectively.
Oppenheimer & Co. Inc. acted as the sole underwriter for the
initial public offering. The underwriter has also exercised in full
its option to purchase up to an additional 4,125,000 units, at the
initial public offering price to cover over-allotments.
The offering was made only by means of a prospectus. Copies of
the prospectus may be obtained by contacting Oppenheimer & Co.
Inc., 85 Broad Street, 26th Floor, New York, NY 10004, Attn:
Syndicate Prospectus Department, telephone (212) 667-8055 or email:
EquityProspectus@opco.com.
A registration statement related to these securities has been
filed with the Securities and Exchange Commission (SEC) and became
effective on February 24, 2022. 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 an offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
Forward-Looking Statements
This press release includes forward-looking statements.
Forward-looking statements are statements that are not historical
facts. Such forward-looking statements, including the successful
consummation of the Company's initial public offering, are subject
to risks and uncertainties, 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 preliminary
prospectus for the offering filed with the SEC, any of which could
cause actual results to differ from such forward-looking
statements. 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/20220301006262/en/
Gus Garcia gus@gsrmet.com
Lewis Silberman lew@gsrmet.com
GSR II Meteora Acquisition (NASDAQ:GSRMU)
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