NEW YORK, Feb. 3, 2020 /PRNewswire/ -- InterPrivate
Acquisition Corp. (NYSE: IPV.U) (the "Company") announced today
that it priced its initial public offering of 21,000,000 units at
$10.00 per unit. The units will
commence trading on February 4, 2020
on the New York Stock Exchange under the symbol "IPV.U."
Each unit consists of one share of common stock and one-half of
one redeemable warrant, with each whole warrant entitling the
holder to purchase one share of common stock at a price of
$11.50 per share. Once the securities
comprising the units begin separate trading, the common stock and
warrants are expected to be traded on the NYSE under the symbols
"IPV" and "IPV WS", respectively.
The underwriters have been granted a 45-day option to purchase
up to an additional 3,150,000 units offered by the Company to cover
over-allotments, if any.
The offering is expected to close on or about February 6, 2020, subject to customary closing
conditions.
EarlyBirdCapital, Inc. is acting as the sole book-running
manager of the offering. I-Bankers Securities, Inc. is acting as
co-manager.
A registration statement relating to these securities has been
declared effective by the Securities and Exchange Commission on
February 3, 2020. The offering is
being made only by means of a prospectus, copies of which may be
obtained by contacting EarlyBirdCapital, Inc., 366 Madison Avenue,
8th Floor, New York, NY 10017,
Attn: Syndicate Department, 212-661-0200. 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 a
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 InterPrivate Acquisition Corp.
InterPrivate Acquisition Corp. is a blank check company
organized for the purpose of effecting a merger, share exchange,
asset acquisition, stock purchase, recapitalization,
reorganization, or other similar business combination with one or
more businesses or entities. The Company is controlled by
affiliates of Ahmed M. Fattouh,
Chairman and Chief Executive Officer, and InterPrivate LLC, a
private investment firm founded by Mr. Fattouh that invests on
behalf of a consortium of family offices in partnership with
independent sponsors who have accumulated substantial industry
expertise and decades of experience from leading private equity
firms. The Company intends to focus its efforts on evaluating
business combination targets by leveraging InterPrivate's network
of independent sponsors, family offices and private equity and
venture capital firms. The Company is an emerging growth company as
defined in the Jumpstart Our Business Startups Act of 2012.
Forward-Looking Statements
This press release includes forward-looking statements that
involve risks and uncertainties. Forward-looking statements are
statements that are not historical facts. Such forward-looking
statements, including with respect to the initial public offering
and the anticipated use of the proceeds thereof, are subject to
risks and uncertainties, which could cause actual results to differ
from the forward-looking statements, including those set forth in
the risk factors section of the prospectus used in connection with
the Company's initial public offering. 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. 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.
Media Contact:
Charlotte Luer
cluer@interprivate.com
+1-239-404-6785
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SOURCE InterPrivate Acquisition Corp.