Relativity Acquisition Corp. Announces Closing of $143.75 Million Initial Public Offering, Including Full Exercise of Underwriters’ Over-Allotment Option
February 15 2022 - 12:20PM
Relativity Acquisition Corp. (the “Company”), a newly organized
blank check company formed as a Delaware corporation, today
announced the closing of its initial public offering of 14,375,000
units at a price of $10.00 per unit, with each unit consisting of
one share of common stock and one redeemable warrant, and which
amount includes 1,875,000 units issued to the underwriters upon
full exercise of their over-allotment option. Each warrant will
entitle the holder thereof to purchase one share of common stock at
$11.50 per share. The units commenced trading on The Nasdaq Global
Market (“NASDAQ”) under the ticker symbol “RACYU” on February 11,
2022. Once the securities comprising the units begin separate
trading, the common stock and the warrants are expected to be
traded on NASDAQ under the symbols “RACY” and “RACYW,”
respectively.
Relativity Acquisition Corp. is a blank check
company sponsored by Relativity Acquisition Sponsor LLC, a Delaware
limited liability 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 on businesses in the
legalized cannabis industry, including related industries such as
consumer packaged goods, health & wellness, technology,
pharmaceuticals, manufacturing, distribution, logistics and brand
management. The management team and board of directors are composed
of veteran cannabis and finance industry executives, led by
Founder, Chairman and CEO Tarek Tabsh, known for his role as
Co-Founder of pharmaceutical company Oxford Cannabinoid
Technologies and 15 years of cannabis investing and industry
experience.
A.G.P./Alliance Global Partners acted as the
sole book-running manager for the offering.
Brookline Capital Markets, a division of Arcadia
Securities, LLC acted as the co-manager for the offering.
Ellenoff, Grossman & Schole LLP served as
counsel to Relativity Acquisition Corp. and Manatt, Phelps &
Phillips, LLP served as counsel to the underwriters in this
offering.
A registration statement relating to these
securities was declared effective by the U.S. Securities and
Exchange Commission (the “SEC”) on February 10, 2022. 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. No
securities regulatory authority has either approved or disapproved
of the contents of this press release.
The offering was made only by means of a
prospectus, copies of which may be obtained from A.G.P./Alliance
Global Partners, 590 Madison Avenue, 28th Floor, New York, NY
10022, or by telephone at (212) 624-2060, or by email
at prospectus@allianceg.com or by visiting EDGAR on the SEC’s
website at www.sec.gov.
Forward-Looking Statements
This press release contains statements that
constitute “forward-looking statements,” including with respect to
the search for an initial business combination. 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 IPO 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.
Contacts:For investors:
Relativity Acquisition Corp.
Tarek Tabsh, CEO(888)710-4420info@relativityacquisitions.com
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