Battery Future Acquisition Corp. Announces Full Exercise of Over-Allotment Option and Closing of $345 Million Initial Public Offering
December 17 2021 - 4:05PM
Business Wire
Battery Future Acquisition Corp. (the “Company”) today announced
that it has closed its initial public offering of 34,500,000 units,
including 4,500,000 units issued pursuant to the full exercise of
the underwriters’ over-allotment option, at a price of $10.00 per
unit. The units are listed on The New York Stock Exchange (the
“NYSE”) and began trading under the ticker symbol “BFAC.U” on
December 15, 2021. Each unit consists of one Class A ordinary share
and one-half of one redeemable warrant, with each whole warrant
exercisable to purchase one Class A ordinary share of the Company
at a price of $11.50 per share. After the securities comprising the
units begin separate trading, the Class A ordinary shares and
warrants are expected to be listed on the NYSE under the symbols
“BFAC” and “BFAC.WS,” respectively.
The Company is a blank check company whose business purpose is
to effect a merger, capital share exchange, asset acquisition,
share purchase, reorganization or similar business combination with
one or more businesses. While the Company may pursue an initial
business combination target in any industry or geographic region
(excluding China), the Company intends to focus its search on
industries spearheading the shift from fossil fuels to
electrification, including companies in the battery value chain
from the mine site to end user to after-life battery and component
recycling.
Cantor Fitzgerald & Co. acted as the sole bookrunner, and
Roth Capital Partners acted as the co-manager 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 14, 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.
The offering is being made only by means of a prospectus. When
available, copies of the prospectus relating to the offering may be
obtained from Cantor Fitzgerald & Co., 499 Park Avenue, 5th
Floor, New York, New York 10022, Attn: Capital Markets, or by email
at prospectus@cantor.com.
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 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20211217005577/en/
Battery Future Acquisition Corp. (347) 417-4062 Media
Contacts: Gasthalter & Co. Jonathan Gasthalter/Kevin
FitzGerald (212) 257-4170
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