LEHI, Utah, Sept. 10, 2021 /PRNewswire/ -- Banner
Acquisition Corp. (the "Company") today announced the closing of
its initial public offering ("IPO") of 15,000,000 units at a price
of $10.00 per unit. The units are
listed on the NASDAQ Capital Market ("NASDAQ") and trade under the
ticker symbol "BNNRU." Each unit consists of one share of the
Company's Class A common stock and one-half of one redeemable
warrant, with each whole warrant entitling the holder thereof to
purchase one share of the Company's Class A common stock at a price
of $11.50 per share, subject to
adjustment. Once the securities comprising the units begin separate
trading, the shares of Class A common stock and public warrants
will be listed on NASDAQ under the symbols "BNNR" and "BNNRW,"
respectively.
Banner Acquisition Corp. intends to seek partnership with
family-owned or founder-led businesses.
BofA Securities, Inc. is acting as sole book running manager and
underwriter for the IPO. The Company has granted the underwriter a
45-day option to purchase up to an additional 2,250,000 units at
the initial public offering price less the underwriting
discount.
The public offering is being made only by means of a prospectus.
Copies of the prospectus related to the IPO may be obtained from
BofA Securities, Inc., NC1-004-03-43, 200 North College Street, 3rd
floor, Charlotte NC 28255-0001,
Attn: Prospectus Department, or email
dg.prospectus_requests@bofa.com.
A registration statement relating to these securities was
declared effective by the U.S. Securities and Exchange Commission
(the "SEC") on September 7, 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 offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
ABOUT BANNER ACQUISITION CORP.
Banner Acquisition Corp. is 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. The Company intends to
seek partnership with family-owned or founder-led businesses and
industry-leading, tenured management teams looking to continue
their significant ownership in the business that they have built
for the long-term. Banner Acquisition Corp. is sponsored by an
affiliate of Banner Ventures and led by Christopher Christensen, who serves as Chairman
of the Board, and Tanner Ainge, who
serves as Chief Executive Officer and Director.
FORWARD LOOKING STATEMENTS
This press release contains statements that constitute
"forward-looking statements," including with respect to the IPO and
the anticipated use of net proceeds thereof. No assurance can be
given that the net proceeds of the IPO 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 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.
Contacts
Banner Acquisition Corp.
Tanner Ainge
tanner@banneracquisition.com
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SOURCE Banner Acquisition Corp.