Benessere Capital Acquisition Corp. Announces Pricing of $100,000,000 Initial Public Offering

Rhea-AI Summary

Benessere Capital Acquisition Corp. announced the pricing of its initial public offering (IPO) of 10,000,000 units at $10.00 each, set to begin trading on the Nasdaq under ticker symbol BENEU on January 5, 2021. Each unit consists of one share of Class A common stock, one right, and three-fourths of a redeemable warrant, with the rights allowing fractional shares upon an initial business combination. The company intends to target technology-focused middle market and emerging growth sectors across the Americas. Kingswood Capital Markets is the sole book-running manager for the IPO.

Positive

• Successful pricing of 10 million units at $10.00 each indicates strong investor interest.
• Focus on technology-driven markets may enhance growth potential.

Negative

• No assurance that the offering will be completed as planned.
• Potential dilution risk exists with the granting of a 45-day option for underwriters to purchase additional units.

Miami, FL, Jan. 04, 2021 (GLOBE NEWSWIRE) -- Benessere Capital Acquisition Corp. (the “Company”) announced today that it priced its initial public offering of 10,000,000 units at $10.00 per unit. The units will be listed on the Nasdaq Capital Market (“Nasdaq”) and will begin trading tomorrow, Tuesday, January 5, 2021, under the ticker symbol “BENEU”. Each unit consists of one share of the Company’s Class A common stock, one right and three-fourths of one redeemable warrant. Each right entitles the holder to receive one-tenth of one share of Class A common stock upon the consummation of an initial business combination, and each whole warrant entitles the holder thereof to purchase one share of Class A common stock at a price of $11.50 per share. Only whole warrants are exercisable and will trade.  Once the securities comprising the units begin separate trading, shares of the Class A common stock, rights and warrants are expected to be listed on Nasdaq under the symbols “BENE,” “BENER” and “BENEW,” respectively.

The Company is a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. While the Company may pursue an initial business combination target in any business or industry, it intends to focus its search on technology-focused middle market and emerging growth companies in North, Central and South America. The Company is led by Chairman and Chief Executive Officer, Patrick Orlando, Chief Financial Officer, Francisco O. Flores, and Chief Operating Officer, Guillermo Cruz. The Company’s sponsor is ARC Global Investments LLC.

Kingswood Capital Markets, division of Benchmark Investments, Inc. 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 1,500,000 units at the initial public offering price to cover over-allotments, if any.

The offering is being made only by means of a prospectus. Copies of the prospectus may be obtained, when available, from Kingswood Capital Markets, division of Benchmark Investments, Inc., Attn: Syndicate Department, 17 Battery Place, Suite 625, New York, New York 10004, by telephone at (212) 404-7002, by fax at (646) 861-4697, or by email at syndicate@kingswoodcm.com.

A registration statement relating to these securities has been filed with, and declared effective by, the Securities and Exchange Commission (“SEC”) on January 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 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 initial public offering. No assurance can be given that the offering discussed above will be completed on the terms described, or at all. 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.

Contact

Patrick Orlando
Benessere Capital Acquisition Corp.
(561) 467-5200

FAQ

What is the initial public offering price of Benessere Capital Acquisition Corp.?

The initial public offering price is set at $10.00 per unit.

When will Benessere Capital Acquisition Corp. begin trading on Nasdaq?

Benessere Capital Acquisition Corp. will begin trading on Nasdaq on January 5, 2021.

What does each unit of Benessere Capital Acquisition Corp. consist of?

Each unit consists of one share of Class A common stock, one right, and three-fourths of one redeemable warrant.

Who is managing the initial public offering for Benessere Capital Acquisition Corp.?

Kingswood Capital Markets is the sole book-running manager for the IPO.

What is the purpose of Benessere Capital Acquisition Corp.?

The company aims to effect mergers, acquisitions, and related business combinations, focusing on technology-focused companies in the Americas.