BELLEVUE, Wash., Feb. 21,
2023 /PRNewswire/ -- Bellevue Life Sciences
Acquisition Corp. (the "Company" or "we") today announced the
closing of the over-allotment option that the Company granted to
the underwriters of its initial public offering. The representative
of the underwriters exercised the over-allotment option in full on
February 17, 2023 and purchased an
additional 900,000 units at the public offering price of
$10.00 per unit. After giving effect
to the exercise of the over-allotment option, a total of 6,900,000
units have been issued, resulting in total gross proceeds of
$69,000,000. The units, including
those issued in connection with the over-allotment option, are
listed on The Nasdaq Capital Market ("Nasdaq") under the ticker
symbol "BLACU." Each unit consists of one share of common stock,
one redeemable warrant entitling the holder to purchase one share
of common stock at a price of $11.50
per share, and one right entitling the holder to receive one-tenth
(1/10th) of one share of common stock upon consummation
of an initial business combination. After the securities comprising
the units begin separate trading, the shares of common stock,
warrants and rights are expected to be listed on Nasdaq under the
symbols "BLAC," "BLACW" and "BLACR," respectively.
Chardan acted as sole book-running manager of the offering.
A registration statement relating to these securities was
declared effective by the U.S. Securities and Exchange Commission
(the "SEC") on February 9, 2023. 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.
The offering is being made only by means of a prospectus. Copies
of the final prospectus relating to the offering may be obtained by
contacting Chardan, 17 State Street, Suite 2130 New York, NY 10004. Copies of the registration
statement can be accessed through the SEC's website
at www.sec.gov.
About Bellevue Life Sciences Acquisition Corp.
Bellevue Life Sciences Acquisition Corp. is a blank check
company whose business purpose is to effect a merger, capital stock
exchange, asset acquisition, stock purchase, reorganization or
similar business combination with one or more businesses. While we
will not be limited to a particular industry or geographic region
in our identification and acquisition of a target company, we
intend to focus our search on companies in the healthcare
industry.
Forward Looking Statements
This press release contains statements that constitute
"forward-looking statements," including with respect to the initial
public offering and the search for an initial business combination.
No assurance can be given that the 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 initial public
offering filed with the SEC, which is 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.
Contact:
Tom Shin, Senior Vice President and
Corporate Secretary
Phone: +1 (206) 317-9114, Email: tom.shin@bellevuecm.com
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SOURCE Bellevue Life Sciences Acquisition Corp.