Hennessy Capital Investment Corp. V Announces Pricing of Upsized $300,000,000 Initial Public Offering

Rhea-AI Summary

Hennessy Capital Investment Corp. V has priced its upsized initial public offering at $10.00 per unit, totaling 30,000,000 units. The IPO will begin trading on Nasdaq under the symbol "HCICU" from January 15, 2021. Each unit consists of one share of Class A common stock and one-fourth of a redeemable warrant. The offering is set to close on January 20, 2021, pending customary conditions. The company aims to target businesses in sustainable industrial technology and infrastructure. Underwriters have an option to purchase an additional 4,500,000 units to cover over-allotments.

Positive

• Upsized IPO of 30,000,000 units at $10.00 per unit, indicating strong investor interest.
• Targeting sustainable industrial technology and infrastructure sectors, suggesting potential for growth.

Negative

• Risks associated with the completion of the offering as per forward-looking statements.
• Potential dilution of shares if over-allotment option is exercised by underwriters.

NEW YORK, Jan. 14, 2021 (GLOBE NEWSWIRE) -- Hennessy Capital Investment Corp. V (the “Company”) announced today that it priced its upsized initial public offering of 30,000,000 units at $10.00 per unit. The units will be listed on The Nasdaq Capital Market (“Nasdaq”) and trade under the ticker symbol “HCICU” beginning tomorrow, Friday, January 15, 2021. Each unit consists of one share of the Company’s Class A common stock and one-fourth of one redeemable warrant, each whole warrant enabling the holder thereof to purchase one share of Class A common stock at a price of $11.50 per share. Only whole warrants are exercisable. Once the securities comprising the units begin separate trading, the Class A common stock and warrants are expected to be listed on Nasdaq under the symbols “HCIC” and “HCICW,” respectively.

The offering is expected to close on Wednesday, January 20, 2021, subject to customary closing conditions.

The Company is a blank check company founded by Daniel J. Hennessy and formed for the purpose of entering into 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 initial business combination target in any business, industry, sector or geographical location, it intends to focus its search on target businesses in the sustainable industrial technology and infrastructure industries.

Citigroup Global Markets Inc. and Barclays Capital Inc. are serving as joint book-running managers for the offering and Roth Capital Partners, LLC and Loop Capital Markets LLC are serving as co-managers for 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 Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at 1-800-831-9146; or Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at 888-603-5847, or by email at Barclaysprospectus@broadridge.com.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission (the “SEC”) and was declared effective on January 14, 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 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 offering filed with the SEC. Copies 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

CODY SLACH
Gateway IR
P: (949) 574-3860
E: HCIC@gatewayir.com

FAQ

What is the IPO price for Hennessy Capital Investment Corp. V?

The IPO price for Hennessy Capital Investment Corp. V is $10.00 per unit.

When will Hennessy Capital Investment Corp. V start trading on Nasdaq?

Hennessy Capital Investment Corp. V will start trading on Nasdaq under the symbol HCICU on January 15, 2021.

How many units are being offered in the Hennessy Capital Investment Corp. V IPO?

The IPO is offering a total of 30,000,000 units.

What is included in each unit of Hennessy Capital Investment Corp. V?

Each unit includes one share of Class A common stock and one-fourth of one redeemable warrant.

What are the intended sectors for Hennessy Capital Investment Corp. V's business combination?

The company intends to focus on businesses in the sustainable industrial technology and infrastructure sectors.