NEW YORK, Aug. 30, 2021 /PRNewswire/ -- Springwater Special
Situations Corp. (the "Company") announced today that it closed its
initial public offering of 15,000,000 units at $10.00 per unit. The units are listed on the
Nasdaq Capital Market ("Nasdaq") and commenced trading under the
ticker symbol "SWSSU" on August 26,
2021. Each unit consists of one share of common stock
and one-half of one redeemable warrant, each whole
warrant entitling the holder thereof to purchase one share of
common stock at a price of $11.50 per
share, subject to adjustment. Only whole warrants are exercisable
and will trade. Once the securities comprising the units begin
separate trading, the shares of common stock and redeemable
warrants are expected to be listed on Nasdaq under the symbols
"SWSS" and "SWSSW," respectively.
Springwater Special Situations Corp. is a Delaware blank check company formed for the
purpose of entering into a merger, share exchange, asset
acquisition, stock purchafbse, recapitalization, reorganization or
similar business combination with one or more businesses or
entities. The Company's efforts to identify a prospective target
business will not be limited to a particular industry or geographic
region. The Company is led by Martin
Gruschka, Chief Executive Officer and Director, Ignacio Casanova, Chief Financial Officer and
Director, and Angel Pendas,
Secretary and Director.
EarlyBirdCapital, Inc. acted as the sole book-running manager
for the offering and JonesTrading Institutional Services LLC acted
as co-manager for the offering. The Company has granted the
underwriters a 45-day option to purchase up to an
additional 2,250,000 units at the initial public offering price to
cover over-allotments, if any.
The offering is being made only by means of a prospectus. Copies
of the prospectus may be obtained from EarlyBirdCapital, Inc., 366
Madison Avenue, 8th Floor, New York,
NY 10017, Attn: Syndicate Department, 212-661-0200.
A registration statement relating to these securities has been
filed with the Securities and Exchange Commission ("SEC") and
became effective on August 25, 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 an
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 initial public offering and the
anticipated use of 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 final prospectus for the 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.
Contact:
Martin Gruschka, CEO
+ 1 212-818-8800
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SOURCE Springwater Special Situations Corp.