Tribe Capital Growth Corp I Announces Pricing of $240,000,000 Initial Public Offering
Tribe Capital Growth Corp I has priced its initial public offering at $10.00 per unit, consisting of 24 million units. The offering is set to trade under the ticker symbol ATVCU on Nasdaq starting March 5, 2021. Each unit includes one share of Class A common stock and one-fourth of a redeemable warrant, with whole warrants priced at $11.50 per share. The offering is led by Cantor Fitzgerald & Co. and is expected to close on March 9, 2021. The SEC declared the registration statement effective on March 4, 2021.
- Initial public offering of 24 million units at $10.00 per unit.
- Each unit includes one share of common stock and a warrant.
- Trading expected on Nasdaq under ATVCU from March 5, 2021.
- Potential for additional 3.6 million units if over-allotment occurs.
- Forward-looking statements warn that offering terms may change.
- Market uncertainty regarding the completion of the offering.
Tribe Capital Growth Corp I (“the Company” or “TCGC”) announced today that it priced its initial public offering of 24,000,000 units at
TCGC is a special purpose acquisition company (“SPAC”) whose business purpose is to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. TCGC is sponsored by Tribe Arrow Holdings I LLC, an affiliate of Tribe Capital Management LLC, a registered investment advisor.
TCGC is led by Arjun Sethi, Chairman and Chief Executive Officer; Omar Chohan, Chief Financial Officer; Sumit Mehta, Vice President; and Ted Maidenberg, Secretary.
Cantor Fitzgerald & Co. is acting as the sole book-running manager for the offering. The Company has granted the underwriters a 45-day option to purchase up to an additional 3,600,000 units at the initial public offering price to cover over-allotments, if any. The offering is expected to close on March 9, 2021, subject to customary closing conditions.
The offering is being made only by means of a prospectus. When available, copies of the prospectus 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.
A registration statement relating to the securities has been declared effective by the U.S. Securities and Exchange Commission (the "SEC") on March 4, 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 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 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 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.
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