Mountain Partners I Acquisition Corp. Announces Pricing of $200 Million Initial Public Offering

Rhea-AI Summary

Mountain Partners I Acquisition Corp. announced its initial public offering (IPO) pricing of 20,000,000 units at $10.00 each, expected to list on Nasdaq under the symbol 'MCAAU' starting November 5, 2021. Each unit includes one Class A ordinary share and a half warrant, with whole warrants priced at $11.50. Credit Suisse Securities acts as the book-running manager, and the offering is set to close on November 9, 2021, subject to conditions. The Company aims to pursue business combinations within the consumer internet and B2B digital infrastructure sectors.

Positive

• Successful pricing of IPO at $10.00 per unit, raising $200 million.
• Focus on consumer internet and B2B digital infrastructure sectors for future growth.

Negative

• Dependence on successful business combination for future viability.

ZURICH, Nov. 4, 2021 /PRNewswire/ -- Mountain Partners I Acquisition Corp. (the "Company") today announced the pricing of its initial public offering of 20,000,000 units at a price of $10.00 per unit. The units are expected to be listed for trading on the Nasdaq Global Market under the ticker symbol "MCAAU" beginning November 5, 2021. Each unit consists of one of the Company's Class A ordinary shares and one-half of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one Class A ordinary share at a price of $11.50 per share. Once the securities comprising the units begin separate trading, the Company expects that its Class A ordinary shares and warrants will be listed on the Nasdaq Global Market under the symbols "MCAA" and "MCAAW," respectively.

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.

The public offering is being made only by means of a prospectus. When available, 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.

A registration statement relating to the securities became effective on November 4, 2021. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities, 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 expected to close on November 9, 2021, subject to customary closing conditions.

Forward-Looking Statements

This press release contains statements that constitute "forward-looking statements," including with respect to the proposed initial public offering and the Company's plans with respect to the target industry for a potential business combination. No assurance can be given that the offering discussed above will be completed on the terms described, or at all, or 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 and preliminary prospectus for the Company's offering filed with the U.S. Securities and Exchange Commission (the "SEC"). Copies of these documents are available on the SEC's website, at 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 Partners I Acquisition Corp.

FAQ

What is the IPO price of Mountain Partners I Acquisition Corp.?

The IPO price is set at $10.00 per unit.

When will MCAAU start trading on Nasdaq?

MCAAU is expected to start trading on November 5, 2021.

What does each unit of MCAAU consist of?

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

What is the intended focus of Mountain Partners I Acquisition Corp.?

The company intends to focus on the consumer internet and B2B digital infrastructure sectors.

When is the expected closing date of the IPO?

The IPO is expected to close on November 9, 2021.