Evergreen Corporation Announces Closing of Initial Public Offering and Exercise of Full Over-Allotment Option
11 Febbraio 2022 - 10:00PM
Evergreen Corporation (Nasdaq: EVGRU) (the "Company") announced
today that it closed its initial public offering (the “Offering”)
of 10,000,000 units at $10.00 per unit. Each unit consists of one
of the Company's Class A ordinary shares and one redeemable
warrant. Each warrant entitles the holder thereof to purchase one
Class A ordinary share at a price of $11.50 per share. The
underwriters exercised their over-allotment option in full for an
additional 1,500,000 units at the time of the closing of the
Offering. As a result, the aggregate gross proceeds of the
Offering, including the over-allotment, are $115 million, prior to
deducting underwriting discounts, commissions, and other Offering
expenses.
The units have been listed on the Nasdaq Global
Market ("Nasdaq") and began trading on Wednesday, February 9, 2022,
under the ticker symbol "EVGRU". Once the securities comprising the
units begin separate trading, the Class A ordinary shares and
warrants are expected to be listed on Nasdaq under the symbols
"EVGR" and "EVGRW," respectively.
The Company is a blank check company formed for
the purpose of effecting a merger, capital stock exchange, asset
acquisition, stock purchase, reorganization or similar business
combination with one or more businesses. The Company has not
selected any specific business combination target and has not, nor
has anyone on its behalf, initiated any substantive discussions,
directly or indirectly, with any business combination target. While
the Company may pursue an initial business combination target in
any business or industry, it intends to focus its search on
technology companies involved in Artificial Intelligence (AI),
FinTech and Financial Services, the Metaverse, the Internet of
Things (IoT), eCommerce, social commerce, Industry 4.0 (IR4.0), as
well as areas surrounding the new digital economy, in the ASEAN
region. The Company is led by Liew Choon Lian, the Company’s
Chairman of the Board and Chief Executive Officer.
EF Hutton, division of Benchmark Investments,
LLC, served as the sole book running manager for the Offering.
Loeb & Loeb LLP served as legal counsel to
the Company. Pryor Cashman LLP served as counsel to EF Hutton,
division of Benchmark Investments, LLC.
The Offering was made only by means of a
prospectus. Copies of the prospectus may be obtained, when
available, from EF Hutton, division of Benchmark Investments, LLC,
Attn: Syndicate Department, 590 Madison Ave., 39th Floor, New York,
New York 10022, by telephone at (212) 404-7002, by fax at (646)
861-4697, or by email at syndicate@efhuttongroup.com.
A registration statement relating to these
securities has been filed with, and declared effective by, the
Securities and Exchange Commission ("SEC"), on February 8, 2022. A
final prospectus relating to the Offering has been filed with the
SEC. 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 Company’s anticipated use of the net proceeds of the Offering.
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.
Company Contact:Liew Choon LianChief Executive
OfficerEmail: liew4788@gmail.comPhone:+1 786 406 6082
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