Centurion Acquisition Corp. Announces Pricing of $250 Million Initial Public Offering
Centurion Acquisition Corp. has announced the pricing of its $250 million initial public offering (IPO) with 25 million units priced at $10.00 per unit. Trading commences on the Nasdaq Global Market under the ticker symbol 'ALFUU' starting June 11, 2024. Each unit includes one Class A ordinary share and one-half of a redeemable warrant, with each whole warrant exercisable for one Class A share at $11.50. Separate trading of the shares and warrants will begin under ‘ALF’ and ‘ALFUW’. The offering closes June 12, 2024. The company, a blank check entity, aims to target technology sectors including video gaming, cybersecurity, AI, and SaaS. Cantor Fitzgerald & Co. will manage the offering, with Odeon Capital Group as co-manager.
- The IPO is priced at $250 million, indicating strong initial investor interest.
- Each unit priced affordably at $10.00 per unit, making it accessible to a broad range of investors.
- Listing on the Nasdaq Global Market provides high visibility and potential liquidity.
- Focus on high-growth sectors like video gaming, AI, and cybersecurity, which are attractive to investors.
- Cantor Fitzgerald & Co., a reputable firm, is leading the offering, likely enhancing investor confidence.
- The company is a blank check entity, which carries inherent risks due to the lack of operating history.
- Each warrant is exercisable at $11.50 per share, which is above the initial offering price, potentially diluting future share value.
- The offering relies heavily on the successful identification and acquisition of target companies, which may or may not materialize.
Insights
Centurion Acquisition Corp.'s initial public offering (IPO) of
Each unit priced at
The involvement of Cantor Fitzgerald as the sole book-running manager lends credibility and suggests thorough due diligence has been conducted. This is critical for investor confidence, as reputable underwriters often indicate the robustness of the offering.
However, it’s important for investors to be aware of the inherent risks associated with SPACs (Special Purpose Acquisition Companies). These blank-check companies come with uncertainties about the future acquisition targets, which might not always align with initial investor expectations. The 45-day option to purchase additional units also indicates potential for short-term price volatility depending on market demand.
In the short term, the IPO could generate significant trading interest and liquidity, yet investors should consider the company's ability to identify and merge with valuable targets in the long term.
NEW YORK, June 10, 2024 (GLOBE NEWSWIRE) -- Centurion Acquisition Corp. (the “Company”) today announced the pricing of its initial public offering of 25,000,000 units at a price of
Centurion Acquisition Corp. is a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The Company intends to focus on businesses that operate within the technology sector, with a focus on video gaming, interactive entertainment and enabling services and technologies, cybersecurity, artificial intelligence, machine learning, Software as a Service (“SaaS”) and deep tech technologies.
Cantor Fitzgerald & Co. is acting as the sole book-running manager of the offering. Odeon Capital Group, LLC is acting as co-manager of the offering. The Company has granted the underwriters a 45-day option to purchase up to an additional 3,750,000 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 June 10, 2024. 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 Cantor Fitzgerald & Co., Attention: Capital Markets, 499 Park Avenue, 5th Floor New York, New York 10022, or by email at prospectus@cantor.com.
FORWARD-LOOKING STATEMENTS
This press release contains statements that constitute “forward-looking statements,” including with respect to the proposed initial public offering and the anticipated use of the net proceeds. No assurance can be given that the offering discussed above will be completed on the terms described, or at all, or that the net 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 and preliminary prospectus for the Company’s 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.
CONTACT
David Gomberg
President
Centurion Acquisition Corp.
david@centurionacquisition.com
FAQ
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