Bite Acquisition Corp. Announces Exercise of Underwriters’ Over-allotment Option in Connection With Its Initial Public Offering
Bite Acquisition Corp. announced the partial exercise of the over-allotment option related to its initial public offering (IPO), resulting in the issuance of an additional 2,500,000 units at $10.00 each. This brings the total units issued to 20,000,000, totaling $200,000,000. Each unit includes one share of common stock and one redeemable warrant. The units are listed on the NYSE under ticker symbol 'BITE.U,' and the common stock and warrants are expected to trade under 'BITE' and 'BITE WS' respectively.
- Successfully raised $200 million through the IPO.
- Additional 2,500,000 units issued shows strong demand.
- None.
Bite Acquisition Corp. (the “Company”) announced today that the underwriters of its previously announced initial public offering of units have partially exercised their over-allotment option, resulting in the issuance of an additional 2,500,000 units at a public offering price of
Each unit consists of one share of common stock and one redeemable warrant, with each warrant entitling the holder thereof to purchase one half-share of common stock at a price of
EarlyBirdCapital, Inc. acted as sole book running manager in the offering.
Registration statements relating to these securities were declared effective by the Securities and Exchange Commission (“SEC”) on February 11, 2021. 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, NY 10017, Attn: Syndicate Department, 212-661-0200. Copies of the registration statements 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.
About Bite Acquisition Corp.
Bite Acquisition Corp. is a blank check company, also commonly referred to as a special purpose acquisition company, or SPAC, formed for the purpose of entering into a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization or other similar business combination with one or more businesses. While the Company may pursue an initial business combination with a company in any sector or geography, we intend to focus our search on the traditional and non-traditional restaurant sectors in North America.
Forward-Looking Statements
This press release contains statements that constitute “forward-looking statements,” including with respect to the anticipated use of the net proceeds of the public offering and the Company’s search for an initial business combination. No assurance can be given 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 prospectus for the Company’s offering filed with the SEC. Copies of these documents 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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