RYE, N.Y., Jan. 20, 2021 /PRNewswire/ -- Authentic Equity
Acquisition Corp. (the "Company"), a special purpose acquisition
company formed for the purpose of entering into a combination with
one or more businesses, today announced that it closed its initial
public offering of 20,000,000 units at $10.00 per unit and the sale of an additional
3,000,000 units at a price of $10.00
per unit pursuant to the underwriters' full exercise of their
over-allotment option. Total gross proceeds from the offering were
$230,000,000, before deducting
underwriting discounts and commissions and other
expenses. Each unit consists of one Class A ordinary share of
the Company and one-half of one redeemable warrant. Each whole
warrant entitles the holder thereof to purchase one Class A
ordinary share of the Company at a price of $11.50 per share. The units are listed on the
Nasdaq Capital Market and trade under the ticker symbol "AEACU."
Once the securities comprising the units begin separate trading,
the Class A ordinary shares and warrants are expected to be listed
on the Nasdaq Capital Market under the symbols "AEAC" and "AEACW,"
respectively.
While the Company may pursue an acquisition opportunity in any
business, industry, sector or geographical location, it intends to
pursue investments in a broad range of consumer products and
services sectors, including, but not limited to, packaged and
frozen foods, beverages, beer, wine and spirits, snacks, household
products, pet products, consumer and marketing services and
personal care products, including health and beauty and
over-the-counter products. The Company is led by Chairman and Chief
Executive Officer David Hooper,
President and Chief Operating Officer Thomas Flocco, and Chief Financial Officer
Todd Khoury. The Company's website
is www.authenticequityacquisitioncorp.com.
Jefferies LLC and BMO Capital Markets Corp. acted as the joint
book-running managers for this offering.
The offering was made only by means of a prospectus. Copies of
the prospectus related to the offering may be obtained from:
Jefferies LLC, Attn: Equity Syndicate Prospectus Department,
Telephone: (877) 821-7388, email:
Prospectus_Department@Jefferies.com; and BMO Capital Markets Corp,
Attn: Equity Syndicate Department, 3 Times Square, 25th Floor,
New York, NY 10036, Telephone:
(800) 414-3627, email: bmoprospectus@bmo.com.
A registration statement relating to these securities was
declared effective by the Securities and Exchange Commission
("SEC") on January 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.
Cautionary Note Concerning Forward-Looking Statements
This press release contains statements that constitute
"forward-looking statements," including with respect to the initial
public offering and the anticipated use of the net proceeds. No
assurance can be given that the net 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 and prospectus for the
Company's 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.
Contact:
Todd
Khoury
Chief Financial Officer
tkhoury@authenticequityllc.com
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SOURCE Authentic Equity Acquisition Corp.