Corner Growth Acquisition Corp. Announces Pricing of Upsized $350 Million Initial Public Offering
December 16 2020 - 7:12PM
Business Wire
Corner Growth Acquisition Corp. (the “Company”), a special
purpose acquisition company formed for the purpose of effecting a
merger, share exchange, asset acquisition, share purchase,
reorganization or similar business combination with one or more
businesses, today announced the pricing of its upsized initial
public offering of 35,000,000 units at a price of $10.00 per unit.
The units will be listed on The Nasdaq Stock Market LLC and trade
under the ticker symbol “COOLU” beginning December 17, 2020. Each
unit consists of one Class A ordinary share of the Company and
one-third of one redeemable 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 Nasdaq Stock
Market LLC under the symbols “COOL” and “COOLW” respectively.
Led by Co-Chairman John Cadeddu, Co-Chairman and Chief Executive
Officer Marvin Tien and a team of venture capital investors, the
Company expects to focus on the technology industry in the United
States and other developed countries.
Cantor Fitzgerald & Co. is serving as sole book-running
manager for this offering. The Company has granted the underwriters
a 45-day option to purchase up to an additional 5,250,000 units at
the initial public offering price to cover over-allotments, if
any.
The offering is being made only by means of a prospectus. When
available, copies of the prospectus may be obtained from: Cantor
Fitzgerald & Co., Attn: Capital Markets, 499 Park Avenue, 5th
Floor, New York, New York, 10022; Email: prospectus@cantor.com.
The registration statement relating to the securities became
effective on December 16, 2020. 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.
The offering is expected to close on December 21, 2020, subject
to customary closing conditions.
Cautionary Note Concerning Forward-Looking Statements
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 and preliminary prospectus for the Company’s offering
filed with the 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 release, except as required by
law.
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version on businesswire.com: https://www.businesswire.com/news/home/20201216006046/en/
Company Contact: Kevin Tanaka Director of Corporate
Development Corner Growth Acquisition Corp.
kevin@cornercapitalgroup.com Media Contact: Brian Ruby ICR
Brian.ruby@icrinc.com
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