Pearl Holdings Acquisition Corp Announces the Separate Trading of its Class A Ordinary Shares and Redeemable Warrants Commencing February 4, 2022
NEW YORK, Feb. 03, 2022 (GLOBE NEWSWIRE) -- Pearl Holdings Acquisition Corp (Nasdaq: PRLHU) (the “Company”) today announced that, commencing February 4, 2022, holders of the units sold in the Company’s initial public offering of 20,000,000 units may elect to separately trade the Class A ordinary shares and redeemable warrants included in the units. Those units not separated will continue to trade on the Nasdaq Global Market (“Nasdaq”) under the symbol “PRLHU,” and the Class A ordinary shares and redeemable warrants that are separated will trade on Nasdaq under the symbols “PRLH” and “PRLHW,” respectively. No fractional warrants will be issued upon separation of the units and only whole warrants will trade. Holders of units will need to have their brokers contact Continental Stock Transfer & Trust Company, the Company’s transfer agent, in order to separate the units into Class A ordinary shares and redeemable warrants.
The Company is a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The Company intends to focus its search for a target business in global consumer-focused industries, including companies that participate in the lifestyle, technology, healthcare and wellness sectors.
The units were initially offered by the Company in an underwritten offering. Morgan Stanley & Co. LLC (“Morgan Stanley”) acted as sole book-running manager.
The offering was made only by means of a prospectus, copies of which may be obtained for free from the U.S. Securities and Exchange Commission (the “SEC”) website at www.sec.gov or by contacting Morgan Stanley, Attn: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014, Email: prospectus@morganstanley.com.
The registration statement relating to the securities became effective 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 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. 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 registration statement and prospectus relating to the Company’s initial public offering 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.
Contact:
Craig E. Barnett
CEO@PearlHAC.com
