Mountain & Co. I Acquisition Corp. Announces Closing of $200 Million Initial Public Offering
Mountain & Co. I Acquisition Corp. has successfully closed its initial public offering (IPO) of 20,000,000 units at a price of $10.00 per unit. Trading began on the Nasdaq under the ticker symbol "MCAAU" on November 5, 2021. Each unit comprises one Class A ordinary share and one-half of a redeemable warrant, with each whole warrant exercisable at $11.50 per share. The company aims to pursue a merger or acquisition primarily in the consumer internet and B2B digital infrastructure sectors. Credit Suisse Securities is the book-running manager with an option for underwriters to purchase an additional 3,000,000 units.
- Successful IPO of 20,000,000 units raising $200 million.
- Units began trading on Nasdaq under the symbol 'MCAAU'.
- Focus on consumer internet and B2B digital infrastructure sectors opens growth opportunities.
- No assurance of ultimately completing a business combination, creating uncertainty.
- Potential dilution risk due to underwriters' option to purchase additional units.
ZURICH, Nov. 9, 2021 /PRNewswire/ -- Mountain & Co. I Acquisition Corp. (the "Company") announced the closing today of its initial public offering of 20,000,000 units at a price of
The Company was formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or entities. Although the Company's efforts to identify a prospective business combination opportunity will not be limited to a particular industry, it intends to focus on the consumer internet and B2B digital infrastructure sectors.
Credit Suisse Securities (USA) LLC is acting as book-running manager. The Company has granted the underwriters a 45-day option to purchase up to 3,000,000 additional units at the initial public offering price to cover over-allotments, if any.
A registration statement relating to these securities was declared effective by the U.S. Securities and Exchange Commission (the "SEC") on November 4, 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.
The offering is being made only by means of a prospectus. Copies of the prospectus relating to the offering may be obtained from Credit Suisse Securities (USA) LLC, 6933 Louis Stephens Drive, Morrisville, North Carolina 27560, Attn: Prospectus Department or by e–mail at usa.prospectus@credit-suisse.com.
Cautionary Note Concerning Forward-Looking Statements
This press release contains statements that constitute "forward-looking statements," including with respect to the Company's search for an initial 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 for the initial public 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.
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SOURCE Mountain & Co. I Acquisition Corp.
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