Cactus Acquisition Corp. 1 Limited Announces Launch of $100 Million Initial Public Offering

Rhea-AI Summary

Cactus Acquisition Corp. 1 Limited has initiated a roadshow for its IPO, aiming to offer 10 million units at $10 each, consisting of one Class A ordinary share and one-half of a redeemable warrant. Each full warrant allows the purchase of a share at $11.50. The units will trade on Nasdaq under the ticker symbol CCTSU. Oppenheimer & Co. Inc. and Moelis & Company LLC are the joint book-running managers. The registration statement has been filed with the SEC but is not yet effective, and securities cannot be sold until it is.

Positive

• IPO launch for 10 million units at $10, indicating strong market interest.
• Strategic focus on healthcare technology acquisitions, especially in Israel.

Negative

• Regulatory approval is pending; offering can't be completed without SEC's effectiveness.
• No assurance that the proposed terms of the IPO will be met.

NEW YORK, Oct. 27, 2021 (GLOBE NEWSWIRE) -- Cactus Acquisition Corp. 1 Limited (the “Company”), a blank check company incorporated as a Cayman Islands corporation, today announced that it has launched the roadshow for its initial public offering of 10,000,000 units at an offering price of $10.00 per unit, with each unit consisting of one Class A ordinary share of the Company and one-half of one redeemable warrant. Each whole warrant will entitle the holder thereof to purchase one Class A ordinary share at $11.50 per share. The units are expected to trade on the Nasdaq Global Market (“Nasdaq”) under the ticker symbol “CCTSU.”

Oppenheimer & Co. Inc. and Moelis & Company LLC are acting as joint book-running managers for the offering.

The offering is being made only by means of a prospectus. When available, copies of the preliminary prospectus relating to this offering may be obtained from Oppenheimer & Co. Inc., 85 Broad Street, 26th Floor, New York, NY 10004, Attn: Syndicate Prospectus Department, telephone: (212) 667-8055 or by email at EquityProspectus@opco.com, or by accessing the SEC’s website, www.sec.gov.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet been declared effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement has been declared effective.

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 Cactus Acquisition Corp. 1 Limited

Cactus Acquisition Corp. 1 Limited is a blank check company, also commonly referred to as a special purpose acquisition company, or SPAC, formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or entities. The Company will not be limited to any particular industry or geographic region, although it initially intends to pursue targets in the healthcare industry with a primary focus on Israel-related technology-based healthcare companies.

Forward-Looking Statements

This press release contains statements that constitute “forward-looking statements,” including with respect to the Company’s initial public offering (“IPO”) and search for an initial business combination. 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 Cactus Acquisition Corp. 1 Limited, including those set forth in the Risk Factors section of Cactus Acquisition Corp. 1 Limited’s registration statement and preliminary prospectus for the IPO filed with the SEC. Copies are available on the SEC's website, www.sec.gov. Cactus Acquisition Corp. 1 Limited undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Contacts
Cactus Acquisition Corp. 1 Limited
Ofer Gonen
Chief Executive Officer
gonen@cactusac1.com

FAQ

What are the details of Cactus Acquisition Corp. 1 Limited's IPO?

Cactus is offering 10 million units at $10 each, comprising one Class A ordinary share and one-half of a redeemable warrant, with each full warrant exercisable at $11.50.

When will Cactus Acquisition Corp. 1 Limited start trading on Nasdaq?

Cactus Acquisition Corp. units are expected to trade on Nasdaq under the ticker symbol CCTSU upon successful completion of the IPO.

What is the purpose of Cactus Acquisition Corp. 1 Limited's IPO?

The IPO aims to raise capital to pursue potential mergers or acquisitions in the healthcare sector.

Who are the underwriters for Cactus Acquisition Corp. 1 Limited's IPO?

Oppenheimer & Co. Inc. and Moelis & Company LLC are the joint book-running managers for the offering.

What risks are associated with Cactus Acquisition Corp. 1 Limited's IPO?

The IPO is subject to various conditions, including SEC approval and market conditions, which may affect its completion.