Global Synergy Acquisition Corp. Announces Pricing of $225,000,000 Initial Public Offering
January 07 2021 - 11:10PM
Global Synergy Acquisition Corp. (“GSAC” or the “Company”)
announced today that it priced its initial public offering of
22,500,000 units at a price of $10.00 per unit. The units will be
listed on the Nasdaq Capital Market (“Nasdaq”) and will trade under
the ticker symbol “GSAQU” beginning January 8, 2021. Each unit
consists of one Class A ordinary share and one-half of one
redeemable warrant. Each whole warrant entitles the holder thereof
to purchase one Class A ordinary share at a price of $11.50 per
share. Only whole warrants are exercisable. Once the securities
comprising the units begin separate trading, the Class A ordinary
shares and redeemable warrants are expected to be listed on Nasdaq
under the symbols “GSAQ” and “GSAQW,” respectively. No fractional
warrants will be issued upon separation of the units and only whole
warrants will trade. The offering is expected to close on January
12, 2021, subject to customary closing conditions. The Company is a
blank-check 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.
While the Company may pursue an initial business combination
with a company in any sector or geography, the Company intends to
capitalize on the ability of its management team and board of
directors to identify, acquire and manage a business that can
benefit from the team’s operational and investing expertise in the
IT Services and Business Process Outsourcing sectors. GSAC is
co-led by President and Co-CEO Alok Oberoi and Co-CEO Suresh
Vaswani. Alok Oberoi is the Executive Chairman of the Everstone
Group, former Co-Founder and Chairman of the ACPI Group and a
former partner at Goldman Sachs. Suresh Vaswani is a former
President of Dell Services and former Co-CEO of Wipro’s IT
Business. GSAC’s COO and CFO is Murtaza Moochhala, a veteran
investor in the IT Services and Business Process Outsourcing
sectors and a former partner at CVCI Private Equity.
GSAC’s board of directors is chaired by Hank Uberoi, former CEO
and Executive Chairman of Earthport PLC, former COO at Citadel
Investment Group and a former partner and Co-COO of the Technology
Division at Goldman Sachs. The board also includes Brooks
Entwistle, former Chief Business Officer International at Uber,
former CEO of Everstone Capital and a former partner at Goldman
Sachs; Ben Druskin, former Chairman of the Global Technology, Media
and Telecom Investment Banking Group at Citi and a board member at
Endava PLC; and Kirk Wagar, former United States Ambassador to the
Republic of Singapore.
Credit Suisse Securities (USA) LLC and J.P. Morgan Securities
LLC are acting as the book-running managers. The Company has
granted the underwriters a 45-day option to purchase up to an
additional 3,375,000 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 Credit
Suisse Securities (USA) LLC, Attn: Prospectus Department, 6933
Louis Stephens Drive, Morrisville, North Carolina 27560, Telephone:
1-800-221-1037,
Email: usa.prospectus@credit-suisse.com and J.P Morgan
Securities LLC, Attn: Broadridge Financial Solutions, 1155 Long
Island Avenue, Edgewood, New York 11717, Telephone: 1-866-
803-9204, Email: prospectus-eq_fi@jpmorgan.com.
The registration statement relating to the securities became
effective on January 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.
Forward-Looking Statements
This press release contains statements that constitute
“forward-looking statements,” including with respect to the
proposed initial public offering, search for an initial business
combination 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 preliminary prospectus for
the Company’s offering filed with the U.S. Securities and Exchange
Commission (the “SEC”). Copies of these documents 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.
Contact:
Murtaza Moochhala
Chief Financial Officer
(929) 251-0688
mmoochhala@gsacglobal.com
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