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Cascadia Acquisition Corp. (Nasdaq: CCAI) has priced its initial public offering (IPO) of 15 million units at $10.00 each. The units will begin trading on August 26, 2021, and consist of one share of Class A common stock and a half warrant for purchasing additional shares at $11.50. The offering is set to close on August 30, 2021. Cantor Fitzgerald & Co. is the sole book-running manager and has a 45-day option for additional units. The company focuses on Industry 4.0 sectors, including robotics and AI.
Positive
Initial public offering of 15 million units priced at $10.00 per unit.
Units include one share of Class A common stock and one-half warrant.
Focus on advanced technologies and potential growth in robotics and AI sectors.
Negative
None.
SEATTLE--(BUSINESS WIRE)--
Cascadia Acquisition Corp. (Nasdaq: CCAI, the “Company”) announced today that it priced its initial public offering of 15,000,000 units at a price to the public of $10.00 per unit. The units are expected to commence trading on August 26, 2021 on the Nasdaq Global Market (“Nasdaq”) under the ticker symbol "CCAI.U". Each unit consists of one share of Class A common stock and one-half of one warrant, each whole warrant entitling the holder to purchase one share of Class A common stock at a price of $11.50 per share. Once the securities comprising the units begin separate trading, the shares of Class A common stock and warrants are expected to be traded on Nasdaq under the symbols "CCAI" and "CCAI.W," respectively. No fractional warrants will be issued upon separation of the units and only whole warrants will trade. The offering is expected to close on August 30, 2021, subject to customary closing conditions.
Cantor Fitzgerald & Co. is acting as the sole book-running manager of the offering. The underwriter has been granted a 45-day option to purchase up to an additional 2,250,000 units offered by the Company to cover over-allotments, if any.
A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on August 25, 2021. The offering is being made only by means of a prospectus, copies of which 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.
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 Cascadia Acquisition Corp.
Cascadia Acquisition Corp. is a special purpose acquisition company formed for the purpose of effecting a merger, stock purchase or similar business combination with one or more businesses. The Company is sponsored by an affiliate of Cascadia Capital, a financial advisor to entrepreneurs, boards of directors and business owners. The Company intends to concentrate on sourcing business combination opportunities in industry sectors that are being fundamentally reshaped by the introduction of advanced technologies, commonly referred to as “Industry 4.0,” especially the area of robotics, automation and artificial intelligence, as well as energy transition.
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, including with respect to the consummation of the initial public offering and search for an initial business combination, 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, except as required by law.
