Flame Acquisition Corp. Announces Pricing of $250 Million Initial Public Offering
Flame Acquisition Corp. has priced its initial public offering (IPO) at $10.00 per unit, consisting of one share of Class A common stock and half a warrant to purchase an additional share at $11.50. This offering includes 25 million units, expected to list on NYSE under the symbol 'FLME.U' on February 25, 2021. The IPO is expected to close on March 1, 2021, contingent on standard conditions. Underwriters have a 45-day option for an additional 3.75 million units. The funds raised will support the company's aim to merge with a business in North America's energy sector.
- Pricing of 25 million units at $10.00 reflects market confidence.
- Opportunity for strategic acquisition in North America's energy sector.
- Underwriters' option for 3.75 million additional units suggests strong demand.
- No assurance of offering completion as per outlined terms.
- Market risks and potential volatility due to energy sector uncertainties.
Flame Acquisition Corp. (the “Company”) announced today the pricing of its initial public offering of 25,000,000 units at a price of
Cowen and Intrepid Partners are acting as joint book-running managers for the offering. The Company has granted the underwriters a 45-day option to purchase up to an additional 3,750,000 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 Cowen, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, Attn: Prospectus Department, telephone at (833) 297-2926, email at PostSaleManualRequests@broadridge.com.
A registration statement relating to these securities has been filed with the Securities and Exchange Commission (“SEC”) and became effective on February 24, 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.
The offering is expected to close on March 1, 2021, subject to customary closing conditions.
About Flame Acquisition Corp.
Flame Acquisition Corp., led by James C. Flores, 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 in the energy industry in North America.
Forward-Looking Statements
This press release contains statements that constitute “forward-looking statements,” including with respect to the Company’s initial public offering. No assurance can be given that the offering will be completed on the terms described, or at all. Forward-looking statements are subject to numerous conditions, risks and changes in circumstances, 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, as amended from time to time, and prospectus for the offering filed with the SEC. Copies are available on the SEC’s website, www.sec.gov. Any forward-looking statement in this press release speaks only as of the date of this press release. The Company undertakes no obligation to update these statements for revisions or changes after the date of this press release, except as required by applicable securities laws.
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