NEW YORK, April 28, 2020 /PRNewswire/ -- CC Neuberger
Principal Holdings I (the "Company"), today announced that it
closed its initial public offering of 41,400,000 units at
$10.00 per unit, which includes the
exercise in full by the underwriters of their option to purchase an
additional 5,400,000 units. Total gross proceeds from the
offering were $414,000,000, before
deducting underwriting discounts and commissions and other offering
expenses. Each unit consists of one Class A ordinary share of
the Company and one-third of one 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. The units are listed on the New York Stock Exchange
under the symbol "PCPL.U". Once the securities comprising the units
begin separate trading, the Class A ordinary shares and warrants
are expected to be listed on the New York Stock Exchange under the
symbols "PCPL" and "PCPL WS," respectively.
CC Neuberger Principal Holdings I, led by Chinh E. Chu, Douglas
Newton, Charles Kantor and
other senior professionals of CC Capital and Neuberger Berman, is a
blank check company formed for the purpose of entering into a
merger, share exchange, asset acquisition, share purchase,
reorganization or similar business combination with one or more
businesses. While the Company may pursue a business combination in
any industry, the Company intends to focus its search for a
business that would benefit from the founders' and management
team's experience and ability to identify, acquire and manage a
business in the financial, technology and business services
sectors.
Goldman Sachs & Co. LLC, BofA Securities, Inc. and UBS
Investment Bank acted as joint book-running managers for the
offering and Nomura acted as co-manager for the offering.
The offering was made only by means of a prospectus. Copies of
the prospectus may be obtained from Goldman Sachs & Co. LLC,
Attn: Prospectus Department, 200 West Street, New York, New York 10282, telephone: (212)
902-1171 or email: Prospectus-ny@ny.email.gs.com; BofA Securities,
Inc., Attn: Prospectus Department, One
Bryant Park, New York, New
York 10036, telephone: (800) 294-1322 or email:
dg.prospectus_request@bofa.com; or UBS Securities LLC, Attn:
Prospectus Department, 1285 Avenue of the Americas, New York, New York 10019, telephone: (888)
827-7275 or email: ol-prospectusrequest@ubs.com.
A registration statement relating to the securities became
effective on April 23, 2020 in
accordance with Section 8(a) of the Securities Act of 1933, as
amended. 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.
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 the anticipated use of the net proceeds. No
assurance can be given 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 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.
For more information, please contact:
Douglas Newton
Chief Financial Officer
newton@cc.capital
(212) 207-8647
Media contacts:
CC Capital
Jonathan
Keehner / Julie Oakes /
Kate Thompson
Joele Frank, Wilkinson Brimmer
Katcher
(212) 355-4449
Neuberger Berman
Alex
Samuelson
Alexander.Samuelson@NB.com
(212) 476-5392
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SOURCE CC Neuberger Principal Holdings I