NEW YORK, March 10, 2021 /PRNewswire/ -- Isos Acquisition
Corporation (NYSE: ISOS.U.) (the "Company") announced the closing
of the issuance of an additional 2,983,700 units pursuant to the
partial exercise of the underwriters' over-allotment option in
connection with the Company's initial public offering. The
additional units were sold at the initial offering price of
$10.00 per unit, resulting in
additional gross proceeds of $29,837,000 and bringing the total gross proceeds
of the initial public offering to $254,837,000.
The Company's units began trading on the New York Stock Exchange
under the ticker symbol "ISOS.U." on Friday,
March 5, 2021. Each unit consists of one share of the
Company's Class A common stock and one-third of one redeemable
warrant. Each whole warrant entitles the holder thereof to purchase
one share of the Company's Class A common stock at a price of
$11.50 per share. Once the securities
comprising the units begin separate trading, the Class A common
stock and warrants are expected to be listed on the Nasdaq Stock
Market under the symbols "ISOS" and "ISOS WS," respectively.
The Company is a blank check company formed for the purpose of
effecting a merger, 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 in any industry, sector, or geographic region,
it focuses on businesses in the global media and entertainment
sectors, as well as adjacencies in this industry, which includes
direct-to-consumer businesses, consumer brands undergoing digital
transformation, digitally-enabled marketplaces, services, and
platforms among areas of focus. The Company is led by Co-Chief
Executive Officers George Barrios
and Michelle Wilson.
J.P. Morgan Securities LLC and LionTree Advisors LLC acted as
the joint book running managers of the offering.
Of the proceeds received from the consummation of the offering
(as well as the exercise of the option to purchase additional
units) and a simultaneous private placement of warrants,
$254,837,000 (or $10.00 per unit sold in the offering) was placed
in trust. An audited balance sheet of the Company as of
March 5, 2021 reflecting the receipt
of the proceeds upon consummation of the initial public offering
and the private placement (but not including the closing of the
additional units described herein) will be included as an exhibit
to the Current Report on Form 8-K to be filed by the Company with
the Securities and Exchange Commission (the "SEC").
Registration statements relating to these securities were filed
with and declared effective by the SEC on March 2, 2021. The offering was made only by
means of a prospectus. Copies of the final prospectus may be
obtained from J.P. Morgan Securities LLC, 383 Madison Avenue,
New York, NY 10179, 212-834-4533,
or by emailing at prospectus-eq_fi@jpmchase.com or LionTree
Advisors LLC, 660 Madison Avenue, New
York, NY 10065. 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 an offer, solicitation or sale would be unlawful
prior to registration or qualification under the securities laws of
any such state or jurisdiction.
Cautionary Note Concerning Forward-Looking Statements
This press release contains statements that constitute
"forward-looking statements," including with respect to the
Company's business combination. 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
preliminary prospectus for the 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.
Media Contacts
Ed
Trissel / Kate Thompson /
Tanner Kaufman
Joele Frank, Wilkinson Brimmer
Katcher
212-355-4449
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SOURCE Isos Acquisition Corporation