Periphas Capital Partnering Corporation Announces Redemption Price Per Share of Class A Common Stock

Rhea-AI Summary

Periphas Capital Partnering Corporation (NYSE: PCPC) announced the expected redemption of its Class A common stock shares on December 28, 2022. The redemption price is estimated to be about $25.15 per share after taxes and dissolution expenses. Holders of Public Shares will receive the Redemption Amount upon presenting their share certificates. The Company plans to file a Form 25 with the U.S. Securities and Exchange Commission to delist its securities. Notably, there will be no redemption rights for warrants, and existing shareholders have waived their rights for Class B and Class F common stock.

Positive

• Redemption of Class A common stock at approximately $25.15 per share.
• The planned redemption provides liquidity to shareholders.

Negative

• The company will delist its securities from the NYSE.
• No selected target for merger or acquisition has been identified.

NEW YORK--(BUSINESS WIRE)-- Periphas Capital Partnering Corporation (the “Company”) (NYSE: PCPC) expects the redemption of its outstanding shares of Class A common stock, par value $0.0001 per share (the “Public Shares”), to occur on December 28, 2022.

Net of taxes and dissolution expenses, the per-share redemption price for the Public Shares is expected to be approximately $25.15 (the “Redemption Amount”).

The Redemption Amount will be payable to the holders of the Public Shares upon presentation of their respective share or unit certificates or other delivery of their shares or units to the Company’s transfer agent, Continental Stock Transfer & Trust Company. Beneficial owners of Public Shares held in “street name,” however, will not need to take any action in order to receive the Redemption Amount.

There will be no redemption rights or liquidating distributions with respect to the Company’s warrants. The Company’s initial stockholders have waived their redemption rights with respect to the outstanding shares of Class B common stock, par value $0.0001 per share, and Class F common stock, par value $0.0001 per share, issued prior to the Company’s initial public offering.

The Company expects that The New York Stock Exchange will file a Form 25 with the U.S. Securities and Exchange Commission to delist its securities.

About Periphas Capital Partnering Corporation

Periphas Capital Partnering Corporation is a blank check company incorporated in Delaware for the purpose of identifying a company with whom to partner in order to effectuate a merger, share exchange, asset acquisition, share purchase, reorganization or similar partnering transaction with one or more businesses. The Company has not yet selected a target with whom to partner.

Forward Looking-Statements

This press release may include “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact included in this press release are forward-looking statements, including, without limitation, the redemption of the Company’s Public Shares. When used in this press release, words such as “anticipate,” “believe,” “estimate,” “expect,” “intend” and similar expressions, as they relate to us or our management team, identify forward-looking statements. Such forward-looking statements are based on the beliefs of management, as well as assumptions made by, and information currently available to, the Company’s management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors detailed in the Company’s filings with the SEC. All subsequent written or oral forward-looking statements attributable to us or persons acting on our behalf are qualified in their entirety by this paragraph. 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 latest Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q filed with the SEC. 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/20221223005160/en/

Jeff Dodge

Chief Operating Officer

info@periphascap.com

(646) 876-6351

Source: Periphas Capital Partnering Corporation

FAQ

What is the redemption date for Periphas Capital Partnering Corporation's shares?

The redemption date is set for December 28, 2022.

What will be the redemption price for the Public Shares of PCPC?

The expected redemption price is approximately $25.15 per share.

Will there be any redemption rights for warrants of PCPC?

No, there will be no redemption rights or liquidating distributions related to the Company's warrants.

Why is PCPC filing a Form 25 with the SEC?

PCPC intends to delist its securities from the New York Stock Exchange.

What has happened to Class B and Class F common stock in regard to redemption rights?

The initial stockholders have waived their redemption rights for Class B and Class F common stock.