ION Acquisition Corp 1 Ltd. Completes $258.75 Million Initial Public Offering
October 06 2020 - 4:05PM
Business Wire
ION Acquisition Corp 1 Ltd. (the “Company”) announced today the
closing of its initial public offering of 25,875,000 units, which
includes 3,375,000 units issued pursuant to the exercise by the
underwriters of their over-allotment option at the initial public
offering price. The offering was priced at $10.00 per unit,
resulting in gross proceeds of $258,750,000.
The Company’s units began trading on The New York Stock Exchange
(the “NYSE”) on October 2, 2020 under the ticker symbol “IACA.U”.
Each unit consists of one Class A ordinary share and one-fifth of
one redeemable warrant, with each whole warrant exercisable to
purchase one Class A ordinary share at a price of $11.50 per share.
After the securities comprising the units begin separate trading,
the Class A ordinary shares and warrants are expected to be listed
on the NYSE under the symbols “IACA” and “IACA WS,”
respectively.
The Company is a blank check company incorporated 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 a business
combination target in any business or industry, the Company intends
to focus on the rapidly growing universe of Israeli companies and
entrepreneurs that apply technology and innovation to our everyday
lives. The Company is sponsored by ION Holdings 1, LP, an affiliate
of ION Asset Management Ltd.
Cowen and Company, LLC served as the sole book running manager
for the offering.
The offering has been made only by means of a prospectus. Copies
of the prospectus relating to this offering may be obtained from:
Cowen and Company, LLC, c/o Broadridge Financial Solutions, 1155
Long Island Avenue, Edgewood, NY, 11717, Attn: Prospectus
Department, email postSaleManualRequests@broadridge.com, telephone:
833-297-2926.
Registration Statements relating to these securities became
effective on October 1, 2020. 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
Company’s search for an initial business combination.
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 U.S.
Securities and Exchange Commission (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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ION Acquisition Corp 1 Ltd. Avrom Gilbert avrom@ion-am.com
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