Tribe Capital Growth Corp I Announces Closing of $276 Million Initial Public Offering
09 Marzo 2021 - 10:30PM
Business Wire
Tribe Capital Growth Corp I (“the Company” or “TCGC”) announced
today that the closing of its initial public offering of 27,600,000
units, including 3,600,000 units issued pursuant to the full
exercise of the underwriters’ over-allotment option. The offering
was priced at $10.00 per unit, resulting in gross proceeds of
$276,000,000. The Company’s units began trading on Nasdaq Capital
Market (“Nasdaq”) on March 5, 2021, under the ticker symbol
“ATVCU.” Each unit consists of one share of the Company’s Class A
common stock and one-fourth of one redeemable warrant, each whole
warrant enabling the holder to purchase one share of Class A common
stock at a price of $11.50 per share. Only whole warrants are
exercisable. Once the securities comprising the units begin
separate trading, the Class A common stock and warrants are
expected to be listed on Nasdaq under the symbols “ATVC” and
“ATVCW,” respectively.
TCGC is a special purpose acquisition company whose business
purpose is to effect a merger, capital stock exchange, asset
acquisition, stock purchase, reorganization or similar business
combination with one or more businesses. TCGC is sponsored by Tribe
Arrow Holdings I LLC and affiliate of Tribe Capital Management LLC,
a registered investment advisor.
TCGC is led by Arjun Sethi, Chairman and Chief Executive
Officer, Omar Chohan, Chief Financial Officer, Sumit Mehta, Vice
President and Ted Maidenberg, Secretary.
Cantor Fitzgerald & Co. acted as the sole book-running
manager for the offering.
The offering was being made only by means of a prospectus.
Copies of the prospectus may be obtained by contacting Cantor
Fitzgerald & Co., Attention: Capital Markets, 499 Park Avenue,
New York, NY 10022, or by e-mail at prospectus@cantor.com.
A registration statement relating to these securities has been
filed with, and declared effective by, the Securities and Exchange
Commission ("SEC") on March 4, 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
proposed initial public offering and the anticipated use of net
proceeds. 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.
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 preliminary 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20210309006023/en/
Media and Investors FTI Consulting Colleen Hsia / Katie
Killip ATVC@fticonsulting.com
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