Crucible Acquisition Corporation Announces the Separate Trading of Its Class A Common Stock and Redeemable Warrants Commencing February 25, 2021

Rhea-AI Summary

Crucible Acquisition Corporation (NYSE: CRU.U) announced that starting February 25, 2021, holders of its initial public offering units can separately trade shares of Class A common stock and redeemable warrants. These units, totaling 25,875,000, were initially offered on January 7, 2021, and will now trade under different symbols: CRU for common stock and CRU WS for warrants on Nasdaq. The separation of units requires broker assistance. The Company, formed for merger and acquisition purposes, emphasizes that this press release does not constitute a securities offer.

Positive

• Enables liquidity for investors through separate trading of stock and warrants.
• Facilitates opportunities for strategic mergers and acquisitions.

Negative

• None.

Crucible Acquisition Corporation (NYSE: CRU.U) (the “Company”) today announced that, commencing February 25, 2021, holders of the units sold in the Company’s initial public offering of 25,875,000 units completed on January 7, 2021, may elect to separately trade the shares of Class A common stock and redeemable warrants included in the units. Those units not separated will continue to trade on the New York Stock Exchange (the “NYSE”) under the symbol “CRU.U,” and the shares of Class A common stock and redeemable warrants that are separated will trade on Nasdaq under the symbols “CRU” and “CRU WS,” respectively. No fractional warrants will be issued upon separation of the units and only whole warrants will trade. Holders of units will need to have their brokers contact Continental Stock Transfer & Trust Company, the Company’s transfer agent, in order to separate the units into shares of Class A common stock and redeemable warrants.

The Company is a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses.

The units were initially offered by the Company in an underwritten offering. Credit Suisse acted as the sole book-running manager in the offering.

The offering was made only by means of a prospectus, copies of which may be obtained for free from the U.S. Securities and Exchange Commission (the “SEC”) website at www.sec.gov or by contacting Credit Suisse Securities (USA) LLC, Attn: Prospectus Department, 6933 Louis Stephens Drive, Morrisville, NC 27560, Telephone: 1-800-221-1037, Email: usa.prospectus@credit-suisse.com.

A registration statement relating to the securities became effective on January 4, 2021. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities of the Company, 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.

Forward-Looking Statements

This press release may include “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact included in this press release are forward-looking statements. When used in this press release, words such as “anticipate,” “believe,” “estimate,” “expect,” “intend” and similar expressions, as they relate to us or our management team, identify forward-looking statements. Such forward-looking statements are based on the beliefs of management, as well as assumptions made by, and information currently available to, the Company’s management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors detailed in the Company’s filings with the SEC. All subsequent written or oral forward-looking statements attributable to us or persons acting on our behalf are qualified in their entirety by this paragraph. 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 relating to the Company’s initial public offering filed with the SEC. 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/20210224005208/en/

FAQ

What is the significance of separating shares of Class A common stock and redeemable warrants for CRU.U?

This separation allows holders to trade shares and warrants independently, increasing liquidity and investment flexibility.

When can holders begin trading separated shares of CRU?

Holders can start trading separated shares on February 25, 2021.

What symbols will the separated CRU shares and warrants trade under?

The shares will trade under the symbol CRU, while the redeemable warrants will trade under the symbol CRU WS.

How many units were offered in CRU's initial public offering?

Crucible Acquisition Corporation offered a total of 25,875,000 units in its initial public offering.