Americas Technology Acquisition Corp. Announces Closing of $115 Million Initial Public Offering

Rhea-AI Summary

Americas Technology Acquisition Corp. (NYSE: ATA.U) has successfully closed its initial public offering, raising $115,000,000 from 11,500,000 units priced at $10.00 each, including an over-allotment of 1,500,000 units. The shares began trading on December 15, 2020, with each unit consisting of one share and half a warrant to purchase an ordinary share at $11.50. After the offering, $116,150,000 was placed in trust, with a detailed audited balance sheet to be filed with the SEC. The company aims to pursue mergers or acquisitions in technology and telecommunications sectors.

Positive

• Raised $115,000,000 in the IPO, showcasing strong investor interest.
• $116,150,000 placed in trust enhances financial stability for future acquisitions.
• Trading under ticker symbol ATA.U increases visibility in the market.

Negative

• None.

New York, Dec. 17, 2020 (GLOBE NEWSWIRE) -- Americas Technology Acquisition Corp. (NYSE: ATA.U, the “Company”) announced today that it closed its initial public offering of 11,500,000 units, including the exercise in full of the underwriter’s over-allotment option to purchase up to an additional 1,500,000 units. The offering was priced at $10.00 per unit, resulting in gross proceeds of $115,000,000.

The Company’s units began trading on the New York Stock Exchange (“NYSE”) on December 15, 2020 and trade under the ticker symbol “ATA.U”. Each unit consists of one ordinary share and one-half of one warrant to purchase one ordinary share at a price of $11.50. Once the securities comprising the units begin separate trading, the ordinary shares and warrants are expected to be listed on NYSE under the symbols “ATA,” and “ATA WS,” respectively.

Of the proceeds received from the consummation of the initial public offering and a simultaneous private placement of units, $116,150,000 (or $10.10 per unit sold in the public offering) was placed in trust. An audited balance sheet of the Company as of December 17, 2020, reflecting receipt of the proceeds upon consummation of the initial public offering and the private placement will be included as an exhibit to a Current Report on Form 8-K to be filed by the Company with the Securities and Exchange Commission.

Ellenoff Grossman & Schole LLP acted as counsel to the Company and Graubard Miller acted as counsel to the underwriters.

EarlyBirdCapital, Inc., acted as sole book running manager and I-Bankers securities, Inc. acted as co-manager..

About the Company

Americas Technology Acquisition Corp. is a blank check company organized for the purpose of effecting a merger, capital stock exchange, asset acquisition, or other similar business combination with one or more businesses or entities with an initial focus on technology, media, and telecommunications verticals. However, the Company’s efforts to identify a prospective target business will not be limited to any particular industry or geographic region.

A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on December 14, 2020. The offering was made only by means of a prospectus, copies of which may be obtained by contacting EarlyBirdCapital, Inc., 366 Madison Avenue, 8th Floor, New York, New York 10017. Copies of the registration statement can be accessed through the SEC's website at www.sec.gov.

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.

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 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.

Contact:
Jorge Marcos
Chief Executive Officer
Americas Technology Acquisition Corp.
305-885-8688

FAQ

What was the total amount raised in the Americas Technology Acquisition Corp. IPO?

The total amount raised in the IPO was $115,000,000.

When did the units of Americas Technology Acquisition Corp. start trading?

The units started trading on December 15, 2020.

What is included in each unit of the Americas Technology Acquisition Corp. IPO?

Each unit consists of one ordinary share and half a warrant to purchase an ordinary share at $11.50.

How much money was placed in trust after the IPO?

A total of $116,150,000 was placed in trust following the IPO.

What is the primary focus of Americas Technology Acquisition Corp. for future acquisitions?

The primary focus is on technology, media, and telecommunications sectors.