Gladstone Acquisition Corporation Announces the Pricing of its Initial Public Offering

Rhea-AI Summary

Gladstone Acquisition Corporation announced the pricing of its initial public offering on August 4, 2021, offering 10 million units at $10 each. The units will trade on the Nasdaq under the symbol GLEEU, with each unit comprising one share of Class A common stock and one-half redeemable warrant. The offering aims to raise capital for potential mergers or acquisitions, primarily focusing on the farming and agricultural sectors. The closing is expected on August 9, 2021, subject to customary conditions.

Positive

• Initial public offering priced at $10 per unit, raising significant capital.
• Focus on the farming and agricultural sectors aligns with management's expertise.
• Potential for market expansion through strategic mergers or business combinations.

Negative

• No historical performance data available for investors to assess company viability.
• Forward-looking statements contain risks and uncertainties that could affect the completion and success of the offering.

MCLEAN, VA / ACCESSWIRE / August 4, 2021 / Gladstone Acquisition Corporation (the "Company") announced today the pricing on August 4, 2021 of its initial public offering of 10,000,000 units at $10.00 per unit. The units are expected to commence trading tomorrow on the Nasdaq Capital Market under the symbol "GLEEU". Each unit consists of one share of the Company's Class A common stock and one-half of one redeemable warrant, with each whole warrant entitling the holder to purchase one share of Class A common stock at a price of $11.50 per share. Once the securities comprising the units begin separate trading, the common stock and warrants are expected to be traded on the Nasdaq Capital Market under the symbols "GLEE" and "GLEEW", respectively.

The Company is a blank check company formed for the purpose of entering into a merger, capital stock exchange, asset acquisition, stock purchase, recapitalization, reorganization or other 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 the farming and agricultural sectors, including farming related operations and businesses that support the farming industry, where its management team has extensive experience.

EF Hutton, division of Benchmark Investments, LLC, is acting as the sole book-running manager of the offering. The underwriters have been granted a 45-day option to purchase up to an additional 1,500,000 units at the initial public offering price to cover over-allotments, if any.

The offering is expected to close on or about August 9, 2021, subject to customary closing conditions.

A registration statement relating to these securities has been declared effective by the Securities and Exchange Commission (the "SEC") on August 4, 2021. The offering is being made only by means of a prospectus, copies of which may be obtained, when available, from EF Hutton, division of Benchmark Investments, LLC, 590 Madison Avenue, 39th Floor, New York, NY 10022, Attention: Syndicate Department, or via email at syndicate@efhuttongroup.com or telephone at (212) 404-7002.

This press release shall not constitute an offer to sell or a 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 includes forward-looking statements that involve risks and uncertainties. Forward-looking statements are statements that are not historical facts. Such forward-looking statements, including with respect to the initial public offering and the anticipated use of the proceeds thereof, are subject to risks and uncertainties, which could cause actual results to differ from the forward-looking statements, including those set forth in the risk factors section of the registration statement and preliminary prospectus for the Company's initial public offering. Copies of these documents can be accessed through the SEC's website at www.sec.gov. 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. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based, except as required by law.

For further information:
Gladstone Acquisition Corporation
+1-703-287-5893

SOURCE: Gladstone Acquisition Corporation

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FAQ

What is the initial public offering price for Gladstone Acquisition Corporation?

The initial public offering price is $10.00 per unit.

When will GLEEU units start trading?

GLEEU units are expected to commence trading on August 5, 2021.

What sectors is Gladstone Acquisition Corporation focusing on?

The company intends to focus on the farming and agricultural sectors.

What does each unit in the offering consist of?

Each unit consists of one share of Class A common stock and one-half of one redeemable warrant.

What is the expected closing date for the offering?

The offering is expected to close on or about August 9, 2021.