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Panera Brands Inc., the owner of Panera Bread, Caribou Coffee, and Einstein Bros. Bagels, announced it will not extend its investment agreement with USHG Acquisition Corp. (NYSE:HUGS) due to unfavorable capital market conditions. The agreement, which lapsed on June 30, 2022, stemmed from a mutual understanding that an IPO is not imminent. Panera plans to continue preparing for a potential public listing should market conditions improve. CEO Niren Chaudhary expressed respect for HUGS and affirmed confidence in Panera's future.
USHG Acquisition Corp. announced the commencement of separate trading for its Class A common stock and warrants starting April 19, 2021. The shares will trade on NYSE under the tickers HUGS for Class A common stock and HUGSW for warrants, while units that are not separated will continue to trade under HUGSU. This decision is part of the Company’s ongoing efforts to enhance liquidity for its investors. Goldman Sachs & Co. LLC and Piper Sandler & Co. served as joint book-running managers during the initial public offering.
USHG Acquisition Corp. announced the successful closing of its initial public offering (IPO) on March 1, 2021, raising $287.5 million. The offering involved 28,750,000 units, priced at $10.00 per unit, with trading commencing on the NYSE under the ticker symbol HUGSU on February 25, 2021. Each unit comprises one share of Class A common stock and one-third of a warrant, allowing stock purchase at $11.50 per share. The shares and warrants will separately trade under HUGS and HUGSW, respectively.
USHG Acquisition Corp. has priced its initial public offering (IPO) of 25,000,000 units at $10.00 each, expected to trade under the ticker 'HUGSU' starting February 25, 2021. Each unit consists of one Class A common stock share and one-third of a redeemable warrant. The offering closes on March 1, 2021, subject to customary conditions. Goldman Sachs and Piper Sandler are joint book-running managers. The Company may offer an additional 3,750,000 units for over-allotments. USHG focuses on mergers and acquisitions within culture-driven businesses.
