COTTONWOOD HEIGHTS, Utah,
Nov. 4, 2021 /PRNewswire/ -- Mercato
Partners Acquisition Corporation ("MPRA" or the "Company")
announced today that it has priced its initial public offering of
20,000,000 units at a price of $10.00
per unit for aggregate gross proceeds of $200,000,000.
MPRA is a newly incorporated, 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
capitalize on the ability of its management team and the broader
Mercato Partners platform to identify, acquire and operate a
business in either the technology or branded consumer products
sector that possesses the suitable characteristics to achieve
attractive long-term risk adjusted returns, though it reserves the
right to pursue an acquisition opportunity in any business or
industry.
The units will be listed on the Nasdaq Global Market ("Nasdaq")
and will trade under the ticker symbol "MPRAU" and will begin
trading today, November 4, 2021. Each
unit consists of one share of the Company's Class A common stock
and one-half of one redeemable warrant, each whole warrant
entitling the holder thereof to purchase one share of Class A
common stock at an exercise price of $11.50 per share, subject to adjustment. Once the
securities comprising the units begin separate trading, the Class A
common stock and warrants are expected to be listed on the Nasdaq
under the symbols "MPRA" and "MPRAW," respectively.
BofA Securities is acting as the sole book-running manager and
underwriter for the initial public offering. MPRA has granted the
underwriter a 45-day option to purchase up to an additional
3,000,000 units, at the initial public offering price to cover
over-allotments, if any. The offering is expected to close on
November 8, 2021, subject to
customary closing conditions.
The offering is being made only by means of a prospectus. Copies
of the prospectus may be obtained, when available, by contacting
BofA Securities, NC1-004-03-43, 200 North College Street,
3rd Floor, Charlotte,
NC 28255-0001, Attention: Prospectus Department, or by email
at dg.prospectus_requests@bofa.com.
A registration statement related to these securities has been
filed with the Securities and Exchange Commission (SEC) and became
effective on November 3, 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 includes forward-looking statements.
Forward-looking statements are statements that are not historical
facts. Such forward-looking statements, including the successful
consummation of the Company's initial public offering, are subject
to risks and uncertainties, 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, any of which could
cause actual results to differ from such forward-looking
statements. The Company expressly disclaims any obligations or
undertaking to release publicly any updates or revisions to any
forward-looking statements contained herein to reflect any change
in the Company's expectations with respect thereto or any change in
events, conditions or circumstances on which any statement is
based, except as required by law.
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SOURCE Mercato Partners
