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Endurance Acquisition Corp. priced its initial public offering (IPO) at $10.00 per unit, totaling 20,000,000 units. Trading under the symbol ‘EDNCU’ will commence on September 15, 2021. Each unit includes one Class A ordinary share and one-half of a redeemable warrant, with whole warrants priced at $11.50 per share. This Cayman Islands incorporated blank check company aims to target businesses in data infrastructure and analytics, particularly in space and wireless sectors. Cantor Fitzgerald & Co is the sole book-running manager for the offering.
Positive
Initial public offering priced at $10.00 per unit, enabling substantial capital raise.
Target focus on data infrastructure and analytics in space and wireless sectors, aligning with market growth.
Negative
No assurance the offering will complete as described.
Forward-looking statements involve risks, including those mentioned in the SEC filing.
NEW YORK--(BUSINESS WIRE)--
Endurance Acquisition Corp. (the “Company”) announced today that it priced its initial public offering of 20,000,000 units at $10.00 per unit. The units will be listed on the Nasdaq Capital Market and trade under the ticker symbol “EDNCU” beginning September 15, 2021. Each unit consists of one Class A ordinary share of the Company and one-half of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one Class A ordinary share at a price of $11.50 per share, subject to adjustment. Only whole warrants are exercisable. Once the securities comprising the units begin separate trading, the Class A ordinary shares and redeemable warrants are expected to be listed on the Nasdaq Capital Market under the symbols “EDNC” and “EDNCW,” respectively.
Endurance Acquisition Corp. is a blank check company, incorporated as a Cayman Islands exempted company for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or assets. The Company intends to focus its search for a target business operating in data infrastructure and analytics, with a primary focus on space and wireless industries and related technology and services, or “space-based tech” businesses. These businesses can be found across the platforms and sensors, mobile communications, Internet of Things and artificial intelligence and big data analytics sectors.
Cantor Fitzgerald & Co is acting as sole book-running manager for the offering. Truist Securities is acting as lead manager for the offering. The Company has granted the underwriter a 45-day option to purchase up to an additional 3,000,000 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 Cantor Fitzgerald & Co., Attn: Capital Markets, 499 Park Avenue, 5th Floor New York, New York 10022, Email: prospectus@cantor.com.
The registration statement relating to the securities became effective on September 14, 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.
Forward-Looking Statements
This press release contains statements that constitute “forward-looking statements,” including with respect to the proposed initial public offering, the anticipated use of the net proceeds, its approach to and the types of businesses the Company will focus on in its search to identify a target it its 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 the Company, including those set forth in the “Risk Factors” section of the Company’s preliminary prospectus relating to the offering filed with the U.S. Securities and Exchange Commission (the “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.
About Endurance Acquisition Corp.
Endurance Acquisition Corp. is a blank check company, incorporated as a Cayman Islands exempted company for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or assets. The Company intends to focus its search for a target business operating in data infrastructure and analytics, with a primary focus on space and wireless industries and related technology and services, or “space-based tech” businesses. The Company plans to leverage its management team’s, directors’, advisors’ and sponsor’s extensive experience across its target sectors to seek to identify attractive initial business combination opportunities.
