Ahren Acquisition Corp. Announces Pricing of $275 million Upsized IPO
December 14 2021 - 9:22PM
Ahren Acquisition Corp. (the “Company”), today announced the
pricing of its initial public offering of 27,500,000 units, at a
price of $10.00 per unit. Each unit issued in the initial public
offering consists of one Class A ordinary share and one-half of one
warrant to purchase one Class A ordinary share at an exercise price
of $11.50 per share. The units will be listed on the Nasdaq Global
Market (“Nasdaq”) and trade under the ticker symbol “AHRNU”
beginning on December 15, 2021. After the securities comprising the
units begin separate trading, the Class A ordinary shares and
warrants are expected to be listed on Nasdaq under the symbols
“AHRN” and “AHRNW,” respectively. The offering is expected to close
on December 17, 2021, subject to customary closing conditions.
Ahren Acquisition Corp. is a blank check company
whose business purpose is to effect a merger, capital share
exchange, asset acquisition, share purchase, reorganization or
similar business combination with one or more businesses. The
Company’s efforts to identify a prospective initial business
combination target will initially be focused on high growth, domain
leading companies fueled by breakthrough deep technology and/or
deep science. The Company believes that it is well positioned to
pursue initial business combination opportunities within its four
domains of interest: Planet & Efficient Energy; Brain &
Artificial Intelligence; Genetics & Platform Technologies; and
Space, Robotics & Physics.
The Company’s sponsor is AACS LP, which is an
affiliate of Ahren LP (“Ahren”). Ahren is an investment fund that
seeks to make transformative investments in companies that have the
capacity to penetrate large markets within and among the Company’s
four domains of interest and on a global stage. Ahren was founded
in 2017 by technology and disruptive healthcare investor and
Founding & General Partner Alice Newcombe-Ellis, alongside
co-founding Science Partners that have founded companies and/or
whose inventions and technologies are today valued in excess of
$100 billion combined. Alice Newcombe-Ellis will be acting as the
Company’s Chief Executive Officer.
Citigroup Global Markets, Inc. is the
underwriter for the offering. The Company has granted the
underwriter a 45-day option to purchase up to an additional
4,125,000 units at the initial public offering price to cover
over-allotments, if any. Citigroup and Lazard Frères & Co., LLC
are acting as our financial advisors in connection with this
offering.
The offering is being made only by means of a
prospectus. When available, copies of the prospectus may be
obtained from: Citigroup Global Markets Inc., c/o Broadridge
Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717,
or by telephone: 800-831-9146.
A registration statement relating to these
securities has been declared effective by the U.S. Securities and
Exchange Commission (the “SEC”) on December 14, 2021. 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.
Cautionary Note Concerning
Forward-Looking Statements
This press release contains statements that
constitute “forward-looking statements,” including with respect to
the initial public offering and search for an initial business
combination. No assurance can be given that the offering discussed
above will be completed on the terms described, or at all, or that
the 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 initial public offering filed with the 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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CONTACT:
Investor Relations, Ahren Acquisition Corp.
info@ahrenacq.com
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