Kadem Sustainable Impact Corporation Announces Closing of $175,000,000 Initial Public Offering
19 Marzo 2021 - 9:05PM
Business Wire
Kadem Sustainable Impact Corporation (NASDAQ: KSICU) (the
“Company”) today announced the closing of its initial public
offering of 17,500,000 units at a price of $10.00 per unit. Total
gross proceeds from the offering were $175 million before deducting
underwriting discounts and commissions and other offering expenses
payable by the Company.
The units began trading on the Nasdaq Capital Market (“Nasdaq”)
under the ticker symbol “KSICU” on March 17, 2021. Each unit
consists of one share of the Company’s Class A common stock and
one-half (1/2) of one warrant of the Company. Each whole warrant
entitles the holder to purchase one share of the Company’s Class A
common stock at a price of $11.50 per share, and only whole
warrants are exercisable. Once the securities comprising the units
begin separate trading, the shares and warrants are expected to be
traded on Nasdaq under the symbols “KSI” and “KSICW,”
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 intends to focus its search for
a target business in the electric vehicle, energy storage and
distribution, and enabling mobility technologies ecosystem.
BMO Capital Markets acted as sole book-running manager for the
offering. Academy Securities and AmeriVet Securities acted as
co-managers for the offering.
The offering is being made only by means of a prospectus. Copies
of the prospectus may be obtained from BMO Capital Markets,
attention: Equity Syndicate Department, 3 Times Square, 25th Floor,
New York, New York 10036, by telephone at 800-414-3627, or by email
at BMOProspectus@bmo.com.
A registration statement relating to these securities has been
declared effective by the U.S. Securities and Exchange Commission
(the “SEC”) on March 16, 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.
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 the net proceeds
thereof. 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
prospectus for the Company’s 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/20210319005466/en/
Brian Ruby, ICR, brian.ruby@icrinc.com
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