Anzu Special Acquisition Corp I Announces Pricing of Upsized $420,000,000 Initial Public Offering

Rhea-AI Summary

Anzu Special Acquisition Corp I (NASDAQ: ANZUU) has priced its initial public offering (IPO) at $10.00 per unit for 42,000,000 units, consisting of one share of Class A common stock and one-third of a redeemable warrant. The IPO is set to close on March 4, 2021, with trading expected to begin on March 2, 2021, under the ticker symbol ANZUU. The company aims to merge or acquire businesses focusing on transformative technologies for industrial applications. BofA Securities and Barclays are the lead underwriters, with an overallotment option of 6,300,000 units.

Positive

• The IPO pricing at $10.00 per unit could attract investor interest.
• Combination of stocks and warrants offers potential for future revenue growth.
• Focus on transformative technologies may position the company favorably in the market.

Negative

• Reliance on successful merger or acquisition for future business operations.
• Potential risks indicated in the prospectus may affect investor confidence.

Anzu Special Acquisition Corp I (NASDAQ: ANZUU) (the “Company”) today announced the pricing of its initial public offering of 42,000,000 units at a price of $10.00 per unit. Each unit consists of one share of the Company’s Class A common stock and one-third (1/3) of one redeemable warrant of the Company. Each whole warrant entitles the holder to purchase one share of the Company’s Class A common stock at a price of $11.50 per share, and only whole warrants are exercisable. The units will be listed on the Nasdaq Capital Market (the “Nasdaq”) and are expected to trade under the ticker symbol “ANZUU” beginning Tuesday, March 2, 2021. Once the securities comprising the units begin separate trading, the shares and warrants are expected to be traded on the Nasdaq under the symbols “ANZU” and “ANZUW,” respectively. The offering is expected to close on March 4, 2021, subject to customary closing conditions.

The Company is a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. The Company intends to focus on high-quality businesses with transformative technologies for industrial applications.

BofA Securities and Barclays are the joint lead book-running managers for the offering. The Company granted the underwriters a 45-day option to purchase up to an additional 6,300,000 units to cover over-allotments, if any.

The offering is being made only by means of a prospectus. When available, copies of the prospectus may be obtained from BofA Securities, Attention: Prospectus Department, NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte, NC 28255-0001, or by emailing dg.prospectus_requests@bofa.com; or Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, email: Barclaysprospectus@broadridge.com, tel: 888-603-5847.

The registration statements relating to the securities became effective on March 1, 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.

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 preliminary prospectus relating to the offering filed with the U.S. Securities and Exchange Commission (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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210301006081/en/

FAQ

What is the IPO price for Anzu Special Acquisition Corp I (ANZUU)?

The IPO price is $10.00 per unit.

How many units are being offered in the ANZUU IPO?

The IPO includes 42,000,000 units.

What does each unit in the ANZUU IPO consist of?

Each unit consists of one share of Class A common stock and one-third of a redeemable warrant.

When is the expected trading start date for ANZUU units?

Trading is expected to begin on March 2, 2021.

What is the purpose of Anzu Special Acquisition Corp I?

The company aims to effect a merger or acquisition with businesses in transformative technologies.