Avanti Acquisition Corp. Announces Pricing of Upsized $600,000,000 Initial Public Offering
Avanti Acquisition Corp. (the “Company”), a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses, today announced the pricing of its upsized initial public offering of 60,000,000 units at a price of $10.00 per unit. The Company is sponsored by Avanti Acquisition SCSp, an affiliate of NNS Group, the private family office of Nassef Sawiris and Sienna Capital, a subsidiary of Groupe Bruxelles Lambert. The Company intends to be sector agnostic and to focus on European family owned or founder led businesses with a US nexus. The units are expected to be listed on the New York Stock Exchange (the “NYSE”) and trade under the ticker symbol “AVAN.U” beginning October 2, 2020. Each unit consists of one Class A ordinary share and one-half of one redeemable warrant. Each whole warrant may be exercised for one Class A ordinary share at a price of $11.50 per share. Only whole warrants are exercisable. Once the securities comprising the units begin separate trading, the Class A ordinary shares and warrants are expected to be listed on the NYSE under the symbols “AVAN” and “AVAN WS,” respectively.
The offering is expected to close on October 6, 2020, subject to customary closing conditions.
Citigroup Global Markets Inc. and Goldman Sachs & Co. LLC are serving as the joint book-running managers for the offering. The Company has granted the underwriters a 45-day option to purchase up to an additional 9,000,000 units at the initial public offering price to cover over-allotments, if any.
When available, copies of the prospectus may be obtained from Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717; telephone: 1-800-831-9146 or by contacting Mihir Unadkat, Director; telephone: +44 20-7986-0015; email: email@example.com and from Goldman Sachs & Co. LLC, Prospectus Department, 200 West Street, New York, NY 10282; telephone: 1-866-471-2526; email: Prospectusfirstname.lastname@example.org.
Registration statements relating to the securities became effective by the Securities and Exchange Commission on October 1, 2020. This press release shall not constitute an offer to sell or a 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 and the anticipated use of the net proceeds. No assurance can be given that the offering discussed above will be completed on the terms described, or at all, or 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 for the Company’s offering filed with the Securities and Exchange Commission (“SEC”) and the preliminary prospectus included therein. 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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