Property Solutions Acquisition Corp. Announces Pricing of $200 Million Initial Public Offering
July 21 2020 - 6:20PM
Property Solutions Acquisition Corp. (NASDAQ: PSACU) (the
“Company”) announced today that it priced its initial public
offering of 20,000,000 units at $10.00 per unit. The units will
commence trading on July 22, 2020 on the Nasdaq Capital Market
under the symbol “PSACU.” Each unit consists of one share of common
stock and one redeemable warrant, with each 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 Nasdaq Capital Market under the symbols “PSAC” and “PSACW”,
respectively.
The underwriters have been granted a 45-day option to purchase
up to an additional 3,000,000 units offered by the Company to cover
over-allotments, if any.
The offering is expected to close on or about July 24, 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 of the offering.
A registration statement relating to these securities has been
declared effective by the Securities and Exchange Commission on
July 21, 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 Property Solutions Acquisition
Corp.Property Solutions 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 may pursue a
business combination opportunity in any business or industry it
chooses although it currently intends to focus on target companies
that service the real estate industry, including property
technology. 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.
Contact:Jordan
Vogeljordan@benchmarkrealestate.com
Property Solutions Acqui... (NASDAQ:PSACU)
Historical Stock Chart
From Jun 2024 to Jul 2024
Property Solutions Acqui... (NASDAQ:PSACU)
Historical Stock Chart
From Jul 2023 to Jul 2024