Chavant Capital Acquisition Corp. Announces Pricing of $80 Million Initial Public Offering
20 Luglio 2021 - 4:50AM
Chavant Capital Acquisition Corp. (the "Company") today announced
the pricing of its initial public offering of 8,000,000 units at a
price of $10.00 per unit. The units will be listed on The NASDAQ
Capital Market (“NASDAQ”) and trade under the ticker symbol "CLAYU"
beginning on July 20, 2021. Each unit consists of one ordinary
share and three-quarters of one redeemable warrant, with each whole
warrant exercisable to purchase one ordinary share at a price of
$11.50 per share. After the securities comprising the units begin
separate trading, the ordinary shares and warrants are expected to
be listed on NASDAQ under the symbols "CLAY" and "CLAYW,"
respectively. The offering is expected to close on July 22, 2021,
subject to customary closing conditions.
Chavant Capital Acquisition Corp. is a blank
check company whose business purpose is to effect a merger, capital
stock exchange, asset acquisition, share purchase, reorganization,
or similar business combination with one or more businesses. While
the Company may pursue an initial business combination with a
company in any sector or geography, the Company intends to focus
its search on companies in the advanced manufacturing and advanced
materials technology sectors.
Roth Capital Partners and Craig-Hallum Capital
Group are acting as joint book-running managers for the offering.
The Company has granted the underwriters a 45-day option to
purchase up to an additional 1,200,000 units at the initial public
offering price to cover over-allotments, if any.
A registration statement relating to these
securities was declared effective by the U.S. Securities and
Exchange Commission (the "SEC") on July 19, 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 offer, solicitation or
sale would be unlawful prior to registration or qualification under
the securities laws of any such state or jurisdiction.
The offering is being made only by means of a
prospectus. When available, copies of the prospectus relating to
the offering may be obtained from Roth Capital Partners, 888 San
Clemente, Newport Beach, CA 92660, Attn: Prospectus Department,
telephone: 800-678-9147, or by accessing the SEC’s website,
www.sec.gov; or Craig-Hallum Capital Group LLC, 222 South Ninth
Street, Suite 350, Minneapolis, MN 55402, Attn: Equity Capital
Markets, telephone: 612-334-6300 or by email at
prospectus@chlm.com.
Forward Looking Statements
This press release contains statements that
constitute "forward-looking statements," including with respect to
the initial public offering and search for an initial business
combination. No assurance can be given that the offering discussed
above will be completed on the terms described, or at all, or that
the 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 for the initial public 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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