Investcorp Europe Acquisition Corp I Announces Closing of Upsized $345,000,000 Initial Public Offering

Rhea-AI Summary

Investcorp Europe Acquisition Corp I (IVCBU) has successfully completed its initial public offering (IPO), raising $345 million by selling 34,500,000 units at $10.00 each. This IPO was upsized from an initial plan of 25,000,000 units. Each unit comprises one Class A ordinary share and half a redeemable warrant, with the whole warrant enabling the purchase of a share at $11.50. Trading commenced on NASDAQ on December 15, 2021. Citigroup and Credit Suisse served as joint book-running managers for the offering.

Positive

• Successfully raised $345 million in gross proceeds.
• Upsized the offering from 25 million to 34.5 million units.
• Begin trading on NASDAQ under the ticker symbol IVCBU.

Negative

• None.

NEW YORK--(BUSINESS WIRE)-- Investcorp Europe Acquisition Corp I (NASDAQ: IVCBU) (the “Company”), a newly incorporated blank check company, today announced that it closed its initial public offering of 34,500,000 units at a price of $10.00 per unit, including 4,500,000 units pursuant to the full exercise of the underwriters' overallotment option. The offering was upsized from an original 25,000,000 unit offering to a 34,500,000 unit offering. The gross proceeds from the offering were $345 million before deducting underwriting discounts and estimated offering expenses. The units began trading on the Nasdaq Global Market (“NASDAQ”) under the ticker symbol “IVCBU” on December 15, 2021.

Each unit consists of one Class A ordinary share and one-half of one redeemable warrant of the Company. Each whole warrant entitles the holder to purchase one share of common stock of the Company at a price of $11.50 per share. Once the securities comprising the units begin separate trading, the shares and warrants are expected to be traded on NASDAQ under the symbols “IVCB” and “IVCBW,” respectively.

Citigroup and Credit Suisse acted as joint book-running managers for the offering.

The offering was made only by means of a prospectus, copies of which may be obtained by contacting Citigroup, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY, 11717, or by telephone at 800-831-9146, and Credit Suisse, Attention: Prospectus Department, 6933 Louis Stephens Drive, Morrisville, North Carolina 27560, Telephone: 1-800-221-1037 or by e–mail at usa.prospectus@credit-suisse.com.

A registration statement relating to the securities was declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on December 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 anticipated use of the net proceeds thereof and with respect to any business combination or acquisition opportunity. 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 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211217005628/en/

Brian Ruby, ICR, brian.ruby@icrinc.com

Source: Investcorp Europe Acquisition Corp I

FAQ

What was the total amount raised in the IVCBU IPO?

The total amount raised in the IVCBU IPO was $345 million.

When did IVCBU begin trading on NASDAQ?

IVCBU began trading on NASDAQ on December 15, 2021.

What does each unit consist of in the IVCBU offering?

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

What is the exercise price for the IVCBU warrants?

The exercise price for the IVCBU warrants is $11.50 per share.

Who were the joint book-running managers for the IVCBU IPO?

Citigroup and Credit Suisse acted as joint book-running managers for the IVCBU IPO.