Simon Property Group Acquisition Holdings, Inc. Announces Pricing of $300,000,000 Initial Public Offering
February 18 2021 - 5:15PM
Business Wire
Simon Property Group Acquisition Holdings, Inc. (the “Company”)
today announced the pricing of its initial public offering of
30,000,000 units at $10.00 per unit. The units will be listed on
the New York Stock Exchange (“NYSE”) under the symbol “SPGS.U”
commencing on February 19, 2021. Each unit consists of one share of
Class A common stock of the Company and one-fifth 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. Once the securities constituting the units begin
separate trading, the Company expects the Class A common stock and
warrants will be listed on the NYSE under the symbols “SPGS” and
“SPGS WS,” respectively.
The Company is sponsored by SPG Sponsor, LLC, an indirect wholly
owned subsidiary of Simon Property Group, Inc. (NYSE: SPG), a
global leader in the ownership of premier shopping, dining,
entertainment and mixed-use destinations. The Company was 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 or companies. It
may pursue a business combination in any industry; however, it is
targeting innovative businesses that operate in the “Live, Work,
Play, Stay, Shop” ecosystem.
Goldman Sachs & Co. LLC is the underwriter for the offering.
The Company has granted the underwriter a 45-day option to purchase
up to 4,500,000 additional units at the initial public offering
price to cover over-allotments, if any.
This offering will only be made by means of a prospectus. Copies
of the preliminary prospectus relating to the offering and final
prospectus, when available, may be obtained from Goldman Sachs
& Co. LLC, Attention: Prospectus Department, 200 West Street,
New York, New York 10282; telephone: 1- 866-471-2526; or by email:
prospectus-ny@ny.email.gs.com.
A registration statement relating to these securities has been
declared effective by the U.S. Securities and Exchange Commission
(the “SEC”). 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.
FORWARD-LOOKING STATEMENTS
Certain statements made in this press release are
forward-looking in nature. Our forward-looking statements include,
but are not limited to, statements regarding our or our management
team’s expectations, hopes, beliefs, intentions or strategies
regarding the future. In addition, any statements that refer to
projections, forecasts or other characterizations of future events
or circumstances, including any underlying assumptions, are
forward-looking statements. The words “anticipate,” “believe,”
“continue,” “could,” “estimate,” “expect,” “intends,” “may,”
“might,” “plan,” “possible,” “potential,” “predict,” “project,”
“should,” “would” and similar expressions may identify
forward-looking statements, but the absence of these words does not
mean that a statement is not forward-looking. Forward-looking
statements in this press release may include, for example,
statements about: our ability to select an appropriate target
business or businesses; our ability to complete our initial
business combination; our expectations around the performance of a
prospective target business or businesses; our success in retaining
or recruiting, or changes required in, our officers, key employees
or directors following our initial business combination; our
officers and directors allocating their time to other businesses
and potentially having conflicts of interest with our business or
in approving our initial business combination; our potential
ability to obtain additional financing to complete our initial
business combination; our pool of prospective target businesses,
including the location and industry of such target businesses; our
ability to consummate an initial business combination due to the
uncertainty resulting from the recent COVID-19 pandemic and other
events (such as terrorist attacks, natural disasters or a
significant outbreak of other infectious diseases); the ability of
our officers and directors to generate a number of potential
business combination opportunities; our public securities’
potential liquidity and trading; the lack of a market for our
securities; the use of proceeds not held in the trust account or
available to us from interest income on the trust account balance;
the trust account not being subject to claims of third parties; or
our financial performance following this offering.
The forward-looking statements contained in this press release
are based on our current expectations and beliefs concerning future
developments and their potential effects on us. There can be no
assurance that future developments affecting us will be those that
we have anticipated. These forward-looking statements involve a
number of risks, uncertainties (some of which are beyond our
control) or other assumptions that may cause actual results or
performance to be materially different from those expressed or
implied by these forward-looking statements. Should one or more of
these risks or uncertainties materialize, or should any of our
assumptions prove incorrect, actual results may vary in material
respects from those projected in these forward-looking statements.
We undertake no obligation to update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise, except as may be required under applicable securities
laws.
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