Build Acquisition Corp. Announces Closing of $200 Million Initial Public Offering
March 19 2021 - 2:31PM
Business Wire
Build Acquisition Corp. (the “Company”) announced today the
closing of its initial public offering (“IPO”) of 20,000,000 units
at a price of $10.00 per unit. The units began trading on the New
York Stock Exchange (“NYSE”) under the ticker symbol “BGSX.U” on
March 17, 2021. Each unit issued in the offering consists of one
share of the Company’s Class A common stock and one-third of one
redeemable warrant, each whole warrant entitling the holder thereof
to purchase one share of Class A common stock at an exercise price
of $11.50 per share, subject to certain adjustments. Once the
securities comprising the units begin separate trading, the shares
of Class A common stock and warrants are expected to be listed on
the NYSE under the symbols “BGSX” and “BGSX.WS,” respectively. No
fractional warrants will be issued upon separation of the units and
only whole warrants will trade.
Cowen and Allen & Company LLC 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 3,000,000 units at
the initial public offering price to cover over-allotments, if any.
The offering is being made only by means of a prospectus. Copies of
the prospectus may be obtained, from Cowen, c/o Broadridge
Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717,
Attn: Prospectus Department, telephone at (833) 297-2926, email at
PostSaleManualRequests@broadridge.com or Allen & Company LLC,
711 5th Avenue, New York, NY 10022, Attn: Prospectus Department,
telephone: (212) 339-2220, or email:
allenprospectus@allenco.com.
A registration statement relating to these securities has been
filed with the Securities and Exchange Commission (“SEC”) and
became effective on March 16, 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 an offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
About Build Acquisition Corp.
Build Acquisition Corp., led by Lanham Napier, Zeynep Young and
Tanner Cerand as well as board members Noam Ohana, Owen Van Natta
and James C. Weaver, is a newly incorporated 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 in the
software and technology-enabled services industries in North
America.
Forward-Looking Statements
This press release contains statements that constitute
“forward-looking statements,” including with respect to the
Company’s IPO. Forward-looking statements are subject to numerous
conditions, risks and changes in circumstances, 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, as
amended from time to time, and prospectus for the offering filed
with the SEC. Copies are available on the SEC’s website,
www.sec.gov. Any forward-looking statement in this press release
speaks only as of the date of this press release. The Company
undertakes no obligation to update these statements for revisions
or changes after the date of this press release, except as required
by applicable securities laws.
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version on businesswire.com: https://www.businesswire.com/news/home/20210319005460/en/
Investor Contact: Build Acquisition Corp. Tanner Cerand
tanner@buildgroup.com
Media Contact: Red Fan Communications Danielle South
Danielle@redfancommunications.com
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