Empower Ltd. Announces Closing of $250 Million Initial Public Offering
10 Octobre 2020 - 12:18AM
Business Wire
Empower Ltd. (NYSE:EMPW.U) (the “Company”) today announced the
closing of its initial public offering of 25,000,000 units at a
price of $10.00 per unit. The Company is a blank check company
sponsored by an affiliate of MidOcean Partners and formed for the
purpose of effecting a merger, share exchange, asset acquisition,
share purchase, reorganization or similar business combination with
one or more businesses. It may pursue a business combination in any
industry, sector or geographic region, and intends to focus its
search initially on U.S. businesses in the consumer products,
retail, services, experiences and related sectors, which complement
the broad experience of the Company’s management in consumer-facing
enterprises at the forefront of evolving preferences, tastes,
experiences and values.
The units are listed on the New York Stock Exchange and trade
under the ticker symbol “EMPW.U”. Each unit consists of one Class A
ordinary share of the Company and one-third of one warrant. Each
whole warrant entitles the holder thereof to purchase one Class A
ordinary share of the Company at a price of $11.50 per share. Once
the securities comprising the units begin separate trading, the
Class A ordinary shares and warrants are expected to be listed on
the New York Stock Exchange under the symbols “EMPW” and “EMPW WS,”
respectively.
Empower is a SPAC that combines the strategic insight and
creativity of recognized leaders in the consumer sector with the
financial strength and expertise of a sophisticated institutional
private equity investor. It is led by Matthew Rubel, chairman and
CEO and Graham Clempson, President.
J.P. Morgan and Jefferies acted as joint book running managers
for the offering. The Company has granted the underwriters a 45-day
option to purchase up to an additional 3,750,000 units at the
initial public offering price to cover over-allotments, if any.
The offering was made only by means of a prospectus. Copies of
the prospectus may be obtained from: J.P. Morgan Securities LLC,
c/o Broadridge Financial Solutions, 1155 Long Island Avenue,
Edgewood, NY 11717, phone: 866-803-9204, email:
prospectus-eq_fi@jpmchase.com; or Jefferies LLC, Attn: Equity
Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New
York, NY 10022, phone: 877-821-7388, email:
prospectus_department@jefferies.com.
A registration statement relating to the securities became
effective on October 6, 2020 in accordance with Section 8(a) of the
Securities Act of 1933, as amended. 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
other 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 other jurisdiction.
About Empower Ltd.
Empower Ltd. 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. Although the Company may
pursue a business combination in any industry, sector or geographic
region, it intends to focus its search initially on U.S. businesses
in the consumer products, retail, services, experiences and related
sectors, which complement the broad experience of the Company’s
management in consumer-facing enterprises at the forefront of
evolving preferences, tastes, experiences and values and which have
the potential to offer a differentiated proposition that creates
more meaning and connectivity to the modern consumer.
Cautionary Note Regarding Forward-Looking Statements
This communication contains “forward-looking statements,”
including with respect to the use of net proceeds from the
offering. 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
preliminary prospectus for the offering filed with the U.S.
Securities and Exchange Commission (“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 communication, except as required by
law.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20201009005606/en/
Jessica Liddell ICR, Inc. EmpowerPR@icrinc.com
Empower (NYSE:EMPW.U)
Graphique Historique de l'Action
De Mai 2024 à Juin 2024
Empower (NYSE:EMPW.U)
Graphique Historique de l'Action
De Juin 2023 à Juin 2024