Glenfarne Merger Corp. Common Stock and Warrants to Commence Trading Separately on May 10, 2021
Glenfarne Merger Corp. (Nasdaq: GGMC) announced today that holders of units from its March 23, 2021 IPO can start trading the Class A common stock and warrants separately from May 10, 2021. Unsplit units will continue to trade as 'GGMCU,' while the Class A stock and warrants will use symbols 'GGMC' and 'GGMCW,' respectively. Glenfarne Merger Corp. is a blank check company aiming for mergers in the energy transition sector in the Americas.
- Opportunity for unit holders to separate and trade Class A common stock and warrants.
- Strategic focus on the energy transition sector may position the company for future growth.
- Uncertainty surrounding the actual use of net proceeds from the IPO.
- Market may perceive the blank check structure as high-risk until a merger is announced.
Glenfarne Merger Corp. (Nasdaq: GGMC) (the “Company”) today announced that the holders of the units sold in the Company’s initial public offering completed on March 23, 2021 may elect to separately trade the Class A common stock and warrants underlying the units commencing on May 10, 2021. Those units that are not separated will continue to trade on the Nasdaq Capital Market (“Nasdaq”), under the ticker symbol “GGMCU,” and the Class A common stock and the warrants are expected to trade under the symbols “GGMC” and “GGMCW,” respectively.
Glenfarne Merger Corp. is a blank check company led by the management team at Glenfarne Group, LLC, newly incorporated for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses or entities in the energy transition and electrification sector in the Americas. For more information, please visit www.glenfarnemerger.com.
Mizuho Securities USA LLC acted as sole book-running manager in the offering.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities of the Company, 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 anticipated use of the net proceeds of the public offering and the Company’s search for an initial business combination. No assurance can be given 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 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.
About Glenfarne Group
Glenfarne is a privately held energy and infrastructure development and management firm based in New York City and Houston, Texas with offices in Panama City, Panama; Santiago, Chile and Bogota, Colombia. Glenfarne's seasoned executives, asset managers and operators develop, acquire, manage and operate energy and infrastructure assets throughout North and South America and Asia. For more information, please visit www.glenfarnegroup.com.
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