Chavant Capital Acquisition Corp. Announces Closing of $80 Million Initial Public Offering
July 22 2021 - 4:05PM
Chavant Capital Acquisition Corp. (the “Company”) today announced
that it has closed its initial public offering of 8,000,000 units
at a price of $10.00 per unit. The units are listed on The NASDAQ
Capital Market (“NASDAQ”) and began trading under the ticker symbol
“CLAYU” on July 20, 2021. Each unit consists of one ordinary share
and three-quarters of one redeemable warrant, with each whole
warrant exercisable to purchase one ordinary share of the Company
at a price of $11.50 per share. After the securities comprising the
units begin separate trading, the ordinary shares and warrants are
expected to be listed on NASDAQ under the symbols “CLAY” and
“CLAYW,” respectively.
Chavant Capital Acquisition Corp. is a blank
check company whose business purpose is to effect a merger, capital
stock exchange, asset acquisition, share 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 companies in the advanced manufacturing and advanced
materials technology sectors.
Roth Capital Partners and Craig-Hallum Capital
Group acted as joint book-running managers for the offering. The
Company has granted the underwriters a 45-day option to purchase up
to an additional 1,200,000 units at the initial public offering
price to cover over-allotments, if any.
A registration statement relating to these
securities was declared effective by the U.S. Securities and
Exchange Commission (the “SEC”) on July 19, 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. Copies of the prospectus relating to the offering may
be obtained from Roth Capital Partners, 888 San Clemente, Newport
Beach, CA 92660, Attn: Prospectus Department, telephone:
800-678-9147; or Craig-Hallum Capital Group LLC, 222 South Ninth
Street, Suite 350, Minneapolis, MN 55402, Attn: Equity Capital
Markets, telephone: 612-334-6300 or by email at
prospectus@chlm.com; or by accessing the SEC’s website,
www.sec.gov.
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.
Contact:
info@chavantcapital.com
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