Gaming & Hospitality Acquisition Corp. Announces the Separate Trading of its Class A Common Stock and Warrants, Commencing March 26, 2021

Rhea-AI Summary

Gaming & Hospitality Acquisition Corp. announced that starting March 26, 2021, holders of IPO units can separately trade shares of Class A common stock and warrants. The Class A shares will trade under the symbol GHAC, and warrants will trade as GHACW on Nasdaq. Units that remain unseparated will continue trading under GHACU. No fractional warrants will be issued. A registration statement became effective on February 2, 2021. The press release emphasizes that it does not constitute a solicitation to buy or sell securities.

Positive

• Holders can now trade Class A shares and warrants separately, increasing liquidity.
• The separation allows for clearer valuation of common stock and warrants.

Negative

• None.

LAS VEGAS, March 26, 2021 /PRNewswire/ -- Gaming & Hospitality Acquisition Corp. (the "Company") announced that, commencing March 26, 2021, holders of the units sold in the Company's initial public offering may elect to separately trade the shares of the Company's Class A common stock and the warrants included in the units.

No fractional warrants will be issued upon separation of the units and only whole warrants will trade. The shares of Class A common stock and warrants that are separated will trade on The Nasdaq Stock Market LLC ("Nasdaq") under the symbols "GHAC" and "GHACW," respectively. Those units not separated will continue to trade on Nasdaq under the symbol "GHACU."  Holders of units will need to have their brokers contact Continental Stock Transfer & Trust Company, the Company's transfer agent, in order to separate the units into shares of Class A common stock and warrants.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission ("SEC") and became effective on February 2, 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.

About Gaming & Hospitality Acquisition Corp.

Gaming & Hospitality Acquisition Corp. 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 acquisition opportunity in any industry or sector, it intends to focus on the gaming and hospitality sectors, which complement the management team's sector and operating expertise. Target businesses in these sectors might include, but are not limited to, regional gaming, distributed gaming, online gaming / sports betting and gaming technology and equipment.

Forward-Looking Statements

This press release contains statements that constitute "forward-looking statements," including with respect to the Company's plans with respect to the target industry for a potential business combination. No assurance can be given that the Company will ultimately complete a business combination transaction. 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 final prospectus dated February 2, 2021 filed with the Securities and Exchange Commission ("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.

Contact

Jonathan Keehner / Kate Thompson 
Joele Frank, Wilkinson Brimmer Katcher 
212.355.4449

 

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SOURCE Gaming & Hospitality Acquisition Corp.

FAQ

What is the significance of the trading separation for GHACU shareholders?

The separation allows GHACU shareholders to trade their Class A common stock and warrants independently, which may enhance liquidity and market valuation.

When did the separate trading of Class A common stock and warrants commence?

The separate trading commenced on March 26, 2021.

What symbols will the shares and warrants trade under following the separation?

After the separation, the shares of Class A common stock will trade under GHAC and the warrants under GHACW.

What should holders of units do to separate their shares?

Holders must contact their brokers to have the units separated into shares of Class A common stock and warrants.

Is the press release an offer to sell securities?

No, the press release does not constitute an offer to sell or solicit an offer to buy any of the securities.