Stratim Cloud Acquisition Corp. Announces Pricing of $250 Million Initial Public Offering
March 11 2021 - 8:03PM
Stratim Cloud Acquisition Corp. (the “Company”) announced today
that it priced its initial public offering of 25,000,000 units at
$10.00 per unit. The units will be listed on The Nasdaq Capital
Market (“Nasdaq”) and trade under the ticker symbol “SCAQU”
beginning March 12, 2021. Each unit consists of one share of Class
A common stock and one-third 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. Only whole warrants
are exercisable. Once the securities comprising the units begin
separate trading, the shares of Class A common stock and redeemable
warrants are expected to be listed on Nasdaq under the symbols
“SCAQ” and “ SCAQW”, respectively.
The Company is a 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 focus on businesses
operating in the technology sector.
BofA Securities and Cowen are acting as joint book-running
managers. The Company has granted the underwriters a 45-day option
to purchase up to an additional 3,750,000 units at the initial
public offering price to cover over-allotments, if any.
The offering is being made only by means of a prospectus. When
available, copies of the prospectus may be obtained from BofA
Securities, NC1-004-03-43, 200 North College Street, 3rd floor,
Charlotte, NC 28255-0001, Attn: Prospectus Department, or by
emailing dg.prospectus_requests@bofa.com; or Cowen, c/o Broadridge
Financial Solutions, 1155 Long Island Avenue, Edgewood, NY, 11717,
Attn: Prospectus Department, or by email at
PostSaleManualRequests@broadridge.com.
A registration statement relating to the securities was declared
effective by the Securities and Exchange Commission (the “SEC”) on
March 11, 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
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 contains statements that constitute
“forward-looking statements,” including with respect to the
proposed initial public offering. No assurance can be given that
the offering will be completed on the terms described, or at all.
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 U.S. SEC and
the preliminary prospectus included therein. Copies of these
documents 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.
Investor Contact:
Sreekanth RaviChief Executive OfficerStratim Cloud Acquisition
Corp.1605 Pine Cone CircleIncline Village, Nevada 89451Telephone:
(775) 318-3629Email: sreekanth@stratimcloud.com
Zachary Abrams Chief Strategy Officer and Chief Financial
Officer Stratim Cloud Acquisition Corp. 1605 Pine Cone Circle
Incline Village, Nevada 89451 Telephone: (775) 318-3629
Email: zach@stratimcloud.com
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