NEW YORK, Sept. 7, 2021 /PRNewswire/ -- Springwater Special
Situations Corp. (the "Company") announced today that it closed the
sale of an additional 2,118,624 units at $10.00 per unit for aggregate gross proceeds of
$21,186,240 pursuant to the
underwriters' over-allotment option granted in connection with the
Company's initial public offering. Total proceeds raised in the
initial public offering, including the over-allotment option
exercise, was $171,186,240. 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 purchase, 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 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.