Freedom Acquisition I Corp. Announces Pricing of Upsized $300 Million Initial Public Offering
Freedom Acquisition I Corp. has successfully priced its upsized initial public offering of 30,000,000 units at $10.00 each. These units will list on the NYSE under the ticker FACT.U beginning February 26, 2021. Each unit includes one Class A ordinary share and one-fourth of a redeemable warrant. The company aims to pursue opportunities in the financial services sector and has notable founders such as Tidjane Thiam. The offering is managed by J.P. Morgan, with a 45-day option for underwriters to purchase an additional 4,500,000 units.
- Successfully priced IPO at $10/unit, raising significant capital.
- Targeting the financial services sector, indicating growth potential.
- Strong management team with notable founders.
- None.
Freedom Acquisition I Corp. (“Freedom Acquisition” or the “Company”) announced today that it priced its upsized initial public offering of 30,000,000 units at
The Company was formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The Company intends to pursue a target in the financial services sector. Freedom Acquisition’s founders include Tidjane Thiam, Adam Gishen and Abhishek Bhatia. A private fund affiliated with Pacific Investment Management Company LLC (PIMCO) is a member of the Company’s sponsor.
J.P. Morgan is acting as the lead book-running manager of the offering. Deutsche Bank Securities and Morgan Stanley are acting as book-running managers of the offering. Academy Securities, Drexel Hamilton, Loop Capital Markets, R. Seelaus & Co., LLC and Siebert Williams Shank are acting as co-managers 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.
The offering is being made only by means of a prospectus. When available, copies of the prospectus may be obtained from J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, telephone: 1-866-803-9204, or by emailing at prospectus-eq_fi@jpmchase.com.
A registration statement relating to the securities has been declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on February 25, 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 and the anticipated use of the net proceeds. 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 registration statement and preliminary prospectus for the Company’s offering filed with the SEC. Copies of these documents 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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210225006337/en/
FAQ
What is the purpose of Freedom Acquisition's IPO?
When will FACT.U start trading on the NYSE?
What are the terms of the warrants attached to each unit?
Who are the underwriters for the IPO?
What is the total number of units offered in the IPO?
