Atlas Crest Investment Corp. II Announces Pricing of Upsized $300 Million Initial Public Offering

Rhea-AI Summary

Atlas Crest Investment Corp. II (NYSE: ACII.U) has priced its initial public offering (IPO) of 30,000,000 units at $10.00 each, set to begin trading on February 4, 2021. Each unit includes one share of Class A common stock and a quarter warrant for purchasing additional shares at $11.50. The offering closes on February 8, 2021, pending customary conditions. Cantor Fitzgerald acts as the sole book-running manager and has a 45-day option for an additional 4,500,000 units for over-allotments. The registration statement was effective as of February 3, 2021.

Positive

• Successful pricing of $300 million IPO with 30 million units offered.
• Potential for additional $45 million through over-allotments from the underwriter.

Negative

• Dilution risk for existing shareholders due to new shares and warrants issued.

New York, NY, Feb. 03, 2021 (GLOBE NEWSWIRE) -- Atlas Crest Investment Corp. II (NYSE: ACII.U, the "Company") announced today that it priced its upsized initial public offering of 30,000,000 units at a price to the public of $10.00 per unit. The units are expected to commence trading on February 4, 2021 on The New York Stock Exchange (the “NYSE”) under the ticker symbol "ACII.U". Each unit consists of one share of Class A common stock and one-fourth of one warrant, each whole warrant entitling the holder 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, the shares of Class A common stock and warrants are expected to be traded on the NYSE under the symbols "ACII" and "ACII.WS," respectively. No fractional warrants will be issued upon separation of the units and only whole warrants will trade. The offering is expected to close on February 8, 2021, subject to customary closing conditions.

Cantor Fitzgerald & Co. is acting as the sole book-running manager of the offering.  The underwriter has been granted a 45-day option to purchase up to an additional 4,500,000 units offered by the Company to cover over-allotments, if any. 

A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on February 3, 2021. The offering is being made only by means of a prospectus, copies of which may be obtained by contacting Cantor Fitzgerald & Co., Attention Capital Markets, 499 Park Avenue, New York, NY 10022, or by e-mail at prospectus@cantor.com.

This press release shall not constitute an offer to sell or a 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.

About Atlas Crest Investment Corp. II

Atlas Crest Investment Corp. II is a special purpose acquisition company formed for the purpose of effecting a merger, stock purchase or similar business combination with one or more businesses. The Company is sponsored by an affiliate of Moelis & Company, a leading global financial advisor to corporate executives, boards, entrepreneurs, financial sponsors and governments.  The management team is led by Ken Moelis, as Chairman, and Michael Spellacy, as Chief Executive Officer, both of whom have had careers centered around identifying, evaluating and implementing organic and inorganic transformational growth and value creation initiatives across a broad range of industries. While the Company intends to evaluate opportunities in many sectors, it believes the diverse experience and extensive relationship network of its management team, board and sponsor will drive particularly attractive investment opportunities in certain high growth sectors including media, fintech/payments, software and technology enabled services, online gaming/sports betting, healthcare and disruptive consumer.

Forward-Looking Statements

This press release includes forward-looking statements that involve risks and uncertainties. Forward looking statements are statements that are not historical facts. Such forward-looking statements, including the successful consummation of the Company's initial public offering, are subject to risks and uncertainties, which could cause actual results to differ from the forward-looking statements. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based, except as required by law.

Contact:

Andrea Hurst

Atlas Crest Investment Corp. II

T: +1 347 583 9705

Andrea@atlascrestcorp.com

FAQ

What is the price of the IPO for ACII.U?

The IPO is priced at $10.00 per unit.

When does trading for ACII.U begin?

Trading is set to commence on February 4, 2021.

What does each unit in the IPO consist of?

Each unit consists of one share of Class A common stock and one-fourth of one warrant.

What is the ticker symbol for the shares after the IPO?

The shares will trade under the ticker symbol 'ACII'.

What is the total amount expected to be raised from the IPO?

The offering aims to raise approximately $300 million.

What is the intended use of funds from the IPO for ACII?

Funds are generally intended for business combinations and acquisitions.