DHC Acquisition Corp. Announces Pricing of Upsized $300 Million Initial Public Offering

Rhea-AI Summary

DHC Acquisition Corp. has priced its upsized initial public offering at $10.00 per unit, raising $300 million by offering 30 million units on NASDAQ under the ticker symbol DHCAU. Each unit includes one Class A share and one-third of a warrant, with full warrants exercisable at $11.50. Trading starts March 2, 2021, and the offering is expected to close on March 4, 2021. The company, targeting sectors like technology and automotive, is led by Christopher Gaertner and Thomas Morgan, Jr. Citigroup Global Markets is the book-running manager, with a 45-day option for underwriters to purchase additional units.

Positive

• Successfully priced an initial public offering at $10.00 per unit, raising $300 million.
• Focus on high-growth sectors including technology and aerospace/defense.
• Experienced leadership team with a clear business strategy.

Negative

• Subject to conditions that may hinder the offering completion.
• Dependence on favorable market conditions for achieving successful business combinations.

DHC Acquisition Corp. (the “Company”) announced the pricing today of its upsized initial public offering of 30,000,000 units at a price of $10.00 per unit. The units will be listed on the NASDAQ Capital Market (NASDAQ) and will trade under the ticker symbol “DHCAU” beginning on March 2, 2021. Each unit consists of one Class A ordinary share and one-third of one redeemable warrant, with each whole warrant exercisable to purchase one Class A ordinary share at a price of $11.50 per share. Only whole warrants will be exercisable. Once the securities comprising the units begin separate trading, the shares of Class A common stock and warrants are expected to be listed on the NASDAQ under the symbols “DHCA” and “DHCAW,” respectively. The offering is expected to close on March 4, 2021, subject to customary closing conditions.

DHC Acquisition Corp. is a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses. The Company intends to focus on the technology, aerospace/defense, enterprise software, automotive supply chain, consumer and E-commerce sectors, and is led by Christopher Gaertner, the Company’s Co-Chief Executive Officer and Chief Financial Officer, and Thomas Morgan, Jr., the Company’s Co-Chief Executive Officer.

Citigroup Global Markets Inc. is acting as the sole book-running manager of the offering. The Company has granted the underwriters a 45-day option to purchase up to an additional 4,500,000 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 March 1, 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. When available, copies of the prospectus relating to this offering may be obtained from Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone number 800-831-9146.

Cautionary Note Concerning 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 offering discussed above will be completed on the terms described, or at all, or 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. Copies are available on the SEC’s website, https://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/20210301006103/en/

FAQ

What is the pricing of DHC Acquisition Corp.'s IPO?

DHC Acquisition Corp.'s IPO is priced at $10.00 per unit, raising a total of $300 million.

When does trading of DHCAU begin?

Trading of DHCAU is set to begin on March 2, 2021.

What does each unit in the DHC Acquisition IPO consist of?

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

What is the expected closing date for the IPO?

The offering is expected to close on March 4, 2021, subject to customary closing conditions.

Who is managing the DHC Acquisition Corp. IPO?

Citigroup Global Markets Inc. is acting as the sole book-running manager for the offering.