Epiphany Technology Acquisition Corp. Announces Pricing of $350,000,000 Initial Public Offering

Rhea-AI Summary

Epiphany Technology Acquisition Corp. announced the pricing of its initial public offering (IPO) of 35 million units at $10.00 each. Trading will start on January 8, 2021, under the ticker symbol EPHYU on Nasdaq. Each unit consists of one Class A common stock share and one-third of a redeemable warrant, with whole warrants allowing the purchase of one Class A share at $11.50. The company aims to merge with firms, focusing on technology. Cantor Fitzgerald & Co. manages the offering, with an option for underwriters to acquire an additional 5.25 million units.

Positive

• Successfully priced IPO at $10.00 per unit.
• Initial offering of 35 million units indicates strong market interest.
• Focus on technology sector for future business combinations.

Negative

• No financial metrics provided to assess future performance.
• IPO carries inherent risks as indicated in forward-looking statements.

New York, NY, Jan. 07, 2021 (GLOBE NEWSWIRE) -- Epiphany Technology Acquisition Corp. (the “Company”) announced today that it priced its initial public offering of 35,000,000 units at $10.00 per unit. The units will be listed on the Nasdaq Capital Market (“Nasdaq”) and will begin trading tomorrow, Friday, January 8, 2021, under the ticker symbol “EPHYU”. Each unit consists of one share of the Company’s Class A common stock and one-third of one redeemable warrant, each whole warrant entitling the holder thereof to purchase one share of Class A common stock at a price of $11.50 per share. Only whole warrants are exercisable and will trade.  Once the securities comprising the units begin separate trading, shares of the Class A common stock and warrants are expected to be listed on Nasdaq under the symbols “EPHY” and “EPHYW,” respectively.

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. While the Company may pursue an initial business combination target in any business or industry, it intends to focus its search on companies in the technology industry. The Company is led by Chief Executive Officer and Chief Financial Officer, Peter Bell, Chairman of the Board, Arthur Coviello, and Vice Chairman of the Board, Paul Deninger.

Cantor Fitzgerald & Co. is acting as the sole book running manager for the offering. The Company has granted the underwriters a 45-day option to purchase up to an additional 5,250,000 units at the initial public offering price to cover over-allotments, if any.

The offering is being made only by means of a prospectus. Copies of the prospectus may be obtained, when available, from Cantor Fitzgerald & Co., Attention: Capital Markets, 499 Park Avenue, 5th Floor New York, New York 10022; Email: prospectus@cantor.com.

A registration statement relating to these securities has been filed with, and declared effective by, the Securities and Exchange Commission (“SEC”) on January 7, 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 an 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 initial public offering. No assurance can be given that the offering discussed above will be completed on the terms described, or at all. 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 offering filed with 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.

Contact

Peter Bell
Art Coviello
Paul Deninger
Epiphany Technology Acquisition Corp.
(619) 736-6855

FAQ

What is the pricing and structure of Epiphany Technology Acquisition Corp.'s IPO?

Epiphany Technology Acquisition Corp. priced its IPO at $10.00 per unit, consisting of one Class A common stock share and one-third of a redeemable warrant.

When will Epiphany's stock begin trading on Nasdaq?

Epiphany's stock will begin trading on January 8, 2021, under the ticker symbol EPHYU.

What is the intended focus of Epiphany Technology Acquisition Corp.?

The company intends to focus on acquiring firms in the technology industry.

Who is managing the IPO for Epiphany Technology Acquisition Corp.?

Cantor Fitzgerald & Co. is acting as the sole book running manager for the offering.

What options do underwriters have regarding Epiphany's IPO?

Underwriters have a 45-day option to purchase an additional 5.25 million units to cover over-allotments.