Senior Connect Acquisition Corp. I Announces Closing of $414 Million Upsized Initial Public Offering
December 15 2020 - 4:27PM
Senior Connect Acquisition Corp. I (the "Company") announced today
the closing of its initial public offering of 41,400,000 units at a
price of $10.00 per unit, including 5,400,000 units issued pursuant
to the exercise by the underwriters of their over-allotment option
in full. The units are listed on the Nasdaq Capital Market
("Nasdaq") and began trading under the ticker symbol "SNRHU" on
December 11, 2020. Each unit consists of one share of Class A
common stock and one-half of one redeemable warrant, with each
whole warrant exercisable to purchase one share of Class A common
stock at a price of $11.50 per share. After the securities
comprising the units begin separate trading, the shares of Class A
common stock and warrants are expected to be listed on Nasdaq under
the symbols "SNRH" and "SNRHW," respectively.
The Company 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 the
Company may pursue an initial business combination with a company
in any sector or geography, the Company intends to focus its search
on businesses serving the senior market or capable of being
repositioned to do so.
Citigroup Global Markets Inc. acted as the sole
bookrunner for the offering.
A registration statement relating to these
securities was declared effective by the U.S. Securities and
Exchange Commission (the "SEC") on December 10, 2020. 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 prospectus relating to this offering may
be obtained from Citigroup Global Markets Inc., Attention:
Prospectus Department, c/o Broadridge Financial Solutions, 1155
Long Island Avenue, Edgewood, NY 11717, or by telephone at (800)
831-9146.
Forward Looking Statements
This press release contains statements that
constitute "forward-looking statements," including with respect to
the initial public offering and search for an initial business
combination. No assurance can be given that the offering discussed
above will be completed on the terms described, or at all, or 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.
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
Investor Contact:
Ryan BurkeSenior Connect Acquisition Corp.
I(480) 948-9200
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