NEW YORK: Golden Falcon Acquisition Corp. announced that it closed its initial public offering of 34.5 million units, which included the full exercise of the underwriters’ over-allotment option.
The offering was priced at $10 per unit, generating total gross proceeds of $345 million.
The units are listed on the New York Stock Exchange (NYSE) and trade under the ticker symbol “GFX.U”.
Each unit consists of one share of the Company’s Class A common stock and one-half of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one share of Class A common stock at a price of $11.50 per share.
Once the securities comprising the units begin separate trading, shares of the Class A common stock and warrants are expected to be listed on the NYSE under the symbols “GFX” and “GFX WS,” respectively.
The Company, led by Makram Azar and Scott Freidheim, was 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 or entities.
While the Company may pursue an initial business combination with any target business and in any sector or geographical location, it intends to focus its search on companies operating in the technology, media, telecommunications and fintech sectors that are headquartered in Europe, Israel, the Middle East or North America.
UBS Securities LLC and Moelis & Company LLC acted as joint book-running managers of the offering and EarlyBirdCapital, Inc. as lead manager for the offering.
Golden Falcon Acquisition Corp. is a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganisation or similar business combination with one or more businesses.
While the Company may pursue an initial business combination target in any business or industry, it intends to focus its search on companies in the technology, media, telecommunications and fintech sectors that are headquartered in Europe, Israel, the Middle East or North America. The Company is led by Chief Executive Officer, Makram Azar, and Chairman, Scott Freidheim.