Chavant Capital Acquisition Corp. Announces Closing of $80 Million Initial Public Offering
On July 22, 2021, Chavant Capital Acquisition Corp. announced the successful closing of its initial public offering (IPO) with 8,000,000 units priced at $10.00 each. The units began trading on NASDAQ under the symbol CLAYU. Each unit comprises one share and three-quarters of a redeemable warrant, with the whole warrant exercisable at $11.50 per share. The company primarily seeks business combinations in advanced manufacturing and materials technology sectors. Roth Capital Partners and Craig-Hallum Capital Group managed the offering, which includes a 45-day over-allotment option for underwriters.
- Successful IPO raised capital through 8,000,000 units at $10.00 each.
- Units are now trading on NASDAQ under ticker symbol CLAYU.
- Focus on mergers in advanced manufacturing and materials technology sectors.
- None.
NEW YORK, July 22, 2021 (GLOBE NEWSWIRE) -- Chavant Capital Acquisition Corp. (the “Company”) today announced that it has closed its initial public offering of 8,000,000 units at a price of
Chavant Capital Acquisition Corp. is a blank check company whose business purpose is to effect a merger, capital stock exchange, asset acquisition, share purchase, reorganization, or 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, the Company intends to focus its search on companies in the advanced manufacturing and advanced materials technology sectors.
Roth Capital Partners and Craig-Hallum Capital Group acted as joint book-running managers for the offering. The Company has granted the underwriters a 45-day option to purchase up to an additional 1,200,000 units at the initial public offering price to cover over-allotments, if any.
A registration statement relating to these securities was declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on July 19, 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 being made only by means of a prospectus. Copies of the prospectus relating to the offering may be obtained from Roth Capital Partners, 888 San Clemente, Newport Beach, CA 92660, Attn: Prospectus Department, telephone: 800-678-9147; or Craig-Hallum Capital Group LLC, 222 South Ninth Street, Suite 350, Minneapolis, MN 55402, Attn: Equity Capital Markets, telephone: 612-334-6300 or by email at prospectus@chlm.com; or by accessing the SEC’s website, www.sec.gov.
Forward Looking Statements
This press release contains statements that constitute “forward-looking statements,” including with respect to the initial public offering and search for an initial business combination. No assurance can be given that the 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 for the initial public offering filed with the SEC, which is 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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