NEW YORK, Feb. 15, 2022 /PRNewswire/ -- Signal Hill
Acquisition Corp. (the "Company"), a special purpose acquisition
company, announced that it closed its initial public offering of
10,000,000 units at a price of $10.00
per unit, resulting in gross proceeds of $100,000,000.
The Company's units began trading on The Nasdaq Global Market
("NASDAQ") on February 11, 2022,
under the ticker symbol "SGHLU." Each unit consists of one share of
the Company's Class A common stock and one-half of one redeemable
warrant. Each whole warrant entitles the holder thereof to purchase
one share of Class A common stock at a price of $11.50 per share. Once the securities comprising
the units begin separate trading, shares of the Class A common
stock and warrants are expected to be listed on Nasdaq under the
symbols "SGHL," and "SGHLW," respectively. No fractional
warrants will be issued upon separation of the units and only whole
warrants will trade.
B. Riley Securities, Inc. acted as sole book-running manager for
the offering. The Company has granted the underwriters a 45-day
option to purchase up to an additional 1,500,000 units at the
initial public offering price to cover over-allotments, if any.
The offering was made only by means of a prospectus. Copies of
the prospectus relating to this offering may be obtained from B.
Riley Securities Inc., Prospectus Department, 1300 North
17th Street, Suite 1300, Arlington, Virginia 22209, or by telephone at
703-312-9580 or by email at prospectuses@brileyfin.com.
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.
About Signal Hill Acquisition Corp.
The Company is a blank check company formed for the purpose of
effecting 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 target in any business or industry, it intends
to focus its search on direct-to-consumer media, technology, and
emerging digital enterprise-focused businesses that would benefit
from access to public markets and the operational and strategic
expertise of our management team and board of directors. The
Company is led by Chief Executive Officer, Jonathan Bond, Chief Financial Officer,
Grainne Coen, and Chairman
Paul Roberts.
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 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 U.S. Securities and
Exchange Commission ("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.
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SOURCE Signal Hill Acquisition Corp.