Catcha Investment Corp Announces Pricing of Upsized $275 Million Initial Public Offering

Rhea-AI Summary

Catcha Investment Corp has announced the pricing of its initial public offering (IPO) of 27,500,000 units at $10.00 each, expected to list on the NYSE under the symbol 'CHAA.U' from February 12, 2021. Each unit includes one Class A ordinary share and one-third of a redeemable warrant, allowing the purchase of additional shares at $11.50. The offering aims to target opportunities in technology, digital media, fintech, or digital services across Asia Pacific. The offering is projected to close on February 17, 2021, subject to customary conditions.

Positive

• Initial public offering of 27,500,000 units at $10.00, raising significant capital for future investments.
• Focus on high-growth sectors like technology and fintech in Asia Pacific, enhancing future growth potential.

Negative

• Potential dilution of shares upon exercising of warrants at $11.50, impacting shareholder value.
• Forward-looking statements indicate uncertainty regarding the completion of the offering and use of proceeds.

Catcha Investment Corp (the “Company”), a special purpose acquisition company formed for the purpose of entering into a combination with one or more businesses, today announced the pricing of its initial public offering of 27,500,000 units at a price of $10.00 per unit. The units will be listed on the New York Stock Exchange and trade under the ticker symbol “CHAA.U” beginning February 12, 2021. Each unit consists of one Class A ordinary share of the Company and one-third of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one Class A ordinary share of the Company at a price of $11.50 per share. Once the securities comprising the units begin separate trading, the Class A ordinary shares and warrants are expected to be listed on the New York Stock Exchange under the symbols “CHAA” and “CHAA WS,” respectively.

Led by Chairman and Chief Executive Officer Patrick Grove and President Luke Elliott, Catcha Investment Corp intends to focus its search on a target with operations or prospective operations in the technology, digital media, financial technology, or digital services sectors, which it refers to as the “new economy sectors,” across Asia Pacific, in particular Southeast Asia and Australia.

J.P. Morgan Securities LLC is serving as sole book-running manager for this offering. The Company has granted the underwriter a 45-day option to purchase up to an additional 4,125,000 units at the initial public offering price to cover over-allotments, if any.

The offering is being made only by means of a prospectus. When available, copies of the prospectus may be obtained from: J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, Telephone: 1-866-803-9204, or by emailing at prospectus-eq_fi@jpmchase.com.

Registration statements relating to the securities became effective on February 11, 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.

The offering is expected to close on February 17, 2021, subject to customary closing conditions.

Cautionary Note Concerning 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 the 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 Company’s offering filed with the Securities and Exchange Commission (“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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210211005988/en/

FAQ

What is the price of the IPO for Catcha Investment Corp (CHAA, CHAA.U)?

The IPO is priced at $10.00 per unit.

When will Catcha Investment Corp (CHAA.U) start trading on the NYSE?

Trading is expected to begin on February 12, 2021.

What does each unit of Catcha Investment Corp's IPO consist of?

Each unit consists of one Class A ordinary share and one-third of a redeemable warrant.

What is the anticipated closing date for the Catcha Investment Corp IPO?

The offering is expected to close on February 17, 2021, subject to customary closing conditions.

What sectors will Catcha Investment Corp target with its IPO proceeds?

The company intends to focus on technology, digital media, fintech, and digital services sectors.

Is there a risk of dilution for shareholders in Catcha Investment Corp (CHAA, CHAA.U)?

Yes, exercising warrants could dilute existing shares.