Avanti Acquisition Corp. Announces Launch of $500,000,000 Initial Public Offering
Avanti Acquisition Corp. (the “Company”), a 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, today announced the commencement of its initial public offering of 50,000,000 units at a price of $10.00 per unit. The Company is sponsored by Avanti Acquisition SCSp, an affiliate of NNS Group, the private family office of Nassef Sawiris and Sienna Capital, a subsidiary of Groupe Bruxelles Lambert. The Company intends to be sector agnostic and to focus on European family owned or founder led businesses with a US nexus. The units are expected to be listed on the New York Stock Exchange (the “NYSE”) and trade under the ticker symbol “AVAN.U”. Each unit consists of one share of Class A common stock and one-half of one redeemable warrant. Each whole warrant may be exercised for 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 listed on the NYSE under the symbols “AVAN” and “AVAN WS,” respectively.
Citigroup Global Markets Inc. and Goldman Sachs & Co. LLC are serving as the joint book-running managers for the offering. The Company intends to grant the underwriters a 45-day option to purchase up to an additional 7,500,000 units at the initial public offering price to cover over-allotments, if any.
When available, copies of the prospectus may be obtained from Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717; telephone: 1-800-831-9146 or by contacting Mihir Unadkat, Director; telephone: +44 20-7986-0015; email: email@example.com and from Goldman Sachs & Co. LLC, Prospectus Department, 200 West Street, New York, NY 10282; telephone: 1-866-471-2526; email: Prospectusfirstname.lastname@example.org .
A registration statement relating to the securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. 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.
This press release contains statements that constitute “forward-looking statements,” including with respect to the proposed initial public offering and the anticipated use of the net proceeds. 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. 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 Company’s offering filed with the Securities and Exchange Commission (“SEC”) and the preliminary prospectus included therein. 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.
About Business Wire
101 California Street, 20th Floor
CA 94111 San Francisco
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
NY-IFF22.10.2020 22:17:06 CEST | Press release
IFF Opens New Dubai Taste Creative Center
GLOBAL-AI-SUMMIT22.10.2020 21:13:13 CEST | Press release
Saudi Arabia and International Telecommunication Union Announce MoU to Support AI for Sustainable Development Efforts
AEROGEN22.10.2020 19:59:11 CEST | Press release
Aerogen Collaborates on Development of More Than 15 Potential COVID-19 Inhaled Therapies
YIWU-FAIR22.10.2020 16:27:06 CEST | Press release
Five Highlights at the 26 th Yiwu Fair to Attract 50,000 Global Merchants
MD-SMITHS-DETECTION22.10.2020 16:02:05 CEST | Press release
Smiths Detection Inc. receives a $90.8M IDIQ contract to manufacture Joint Chemical Agent Detector Adapter for US Department of Defense
VA-HILTON-EFFECT22.10.2020 16:02:05 CEST | Press release
Hilton Effect Foundation Reveals 2020 Grants and Achieves $1 Million in Global COVID-19 Community Response Efforts
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.Visit our pressroom