Senior Connect Acquisition Corp. I Announces Pricing of $360 Million Upsized Initial Public Offering
December 10 2020 - 8:01PM
Senior Connect Acquisition Corp. I (the "Company") announced today
the pricing of its initial public offering of 36,000,000 units at a
price of $10.00 per unit. The units will be listed on the Nasdaq
Capital Market ("Nasdaq") and trade under the ticker symbol "SNRHU"
beginning on December 11, 2020. Each unit consists of one
share of Class A common stock and one-half of one redeemable
warrant, with each whole warrant exercisable to purchase one share
of Class A common stock at a price of $11.50 per share. After
the securities comprising the units begin separate trading, the
shares of Class A common stock and warrants are expected to be
listed on Nasdaq under the symbols "SNRH" and "SNRHW,"
respectively. The offering is expected to close on December 15,
2020.
The Company is a blank check company whose
business purpose is to effect 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 with a company
in any sector or geography, the Company intends to focus its search
on businesses serving the senior market or capable of being
repositioned to do so.
Citigroup Global Markets Inc. is acting as the
sole bookrunner for the offering. The Company has granted the
underwriter a 45-day option to purchase up to an additional
5,400,000 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 December 10, 2020. 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
this offering may be obtained from Citigroup Global Markets Inc.,
Attention: Prospectus Department, c/o Broadridge Financial
Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by
telephone at (800) 831-9146.
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 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.
Contacts
Investor Contact:
Ryan BurkeSenior Connect Acquisition Corp.
I(480) 948-9200
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