Greencity Acquisition Corporation Announces Pricing of $40 Million Initial Public Offering
23 Luglio 2020 - 11:30PM
Greencity Acquisition Corporation (the “Company”) announced today
that it priced its initial public offering of 4,000,000 units at a
price of $10.00 per unit. The units will be listed on The Nasdaq
Capital Market and trade under the ticker symbol “GRCYU” beginning
July 24, 2020. Each unit consists of one ordinary share of the
Company and one warrant, each warrant exercisable for one-half of
one ordinary share of the Company at a price of $11.50 per whole
share. Once the securities comprising the units begin separate
trading, the ordinary shares and warrants are expected to be listed
on The Nasdaq Capital Market under the symbols “GRCY” and “GRCYW,”
respectively.
The Company has granted the underwriters a
45-day option to purchase up to an additional 600,000 units at the
initial public offering price to cover over-allotments, if any.
The offering is expected to close on July 28,
2020, subject to customary closing conditions.
Ladenburg Thalmann & Co. Inc. is acting as
book-running manager and Brookline Capital Markets, a division of
Arcadia Securities, LLC, is acting as co-manager for the
offering.
The offering is being made only by means of a
prospectus. When available, copies of the prospectus may be
obtained by contacting Ladenburg Thalmann & Co. Inc., Attn:
Syndicate Department, 277 Park Ave., 26th Floor, New York, NY
10172, telephone number: 1-800-573-2541, e-mail:
prospectus@ladenburg.com.
A registration statement relating to the
securities became effective on July 23, 2020. 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.
This press release contains statements that
constitute “forward-looking statements,” including with respect to
the proposed initial public offering. No assurance can be given
that the offering discussed above will be completed on the terms
described, or at all. 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 Securities and Exchange Commission
(“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.
About Greencity Acquisition
Corporation
The Company is a blank check company
incorporated as a Cayman Islands exempted company and formed for
the purpose of effecting a merger, share exchange, asset
acquisition, share purchase, reorganization or similar business
combination with one or more businesses. While the Company may
pursue an acquisition opportunity in any industry or sector, the
Company intends to focus on businesses that have a connection to
the Asian market.
Contact
Richard YuChief Financial Officer(+86)
18017342125richardyu@grcyu.com
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