Goal Acquisitions Corp. Announces Closing of $225 Million Initial Public Offering

Rhea-AI Summary

Goal Acquisitions Corp. announced the successful closing of its initial public offering, raising $225 million through the sale of 22,500,000 units at $10.00 per unit. The units began trading on the Nasdaq under the symbol PUCKU on February 11, 2021. Each unit comprises one share of common stock and one redeemable warrant, allowing the purchase of additional shares at $11.50 each. A 45-day option for underwriters to purchase an additional 3,375,000 units is also available. The proceeds will be placed in trust pending future business combinations.

Positive

• Raised $225 million in IPO, enhancing financial position for future acquisitions.
• Trading began on Nasdaq under symbol PUCKU, increasing visibility in the market.
• Units consist of stock and warrants, providing potential for value growth.

Negative

• None.

AUSTIN, Texas, Feb. 16, 2021 /PRNewswire/ -- Goal Acquisitions Corp. (NASDAQ: PUCKU) (the "Company") announced today that it closed its initial public offering of 22,500,000 units at $10.00 per unit. The offering resulted in gross proceeds to the Company of $225 million.

The units began trading on the Nasdaq Capital Market under the symbol "PUCKU" on February 11, 2021. Each unit consists of one share of common stock and one redeemable warrant, with each warrant entitling the holder to purchase one share of common stock at a price of $11.50 per share. Once the securities comprising the units begin separate trading, the common stock and warrants are expected to be traded on the Nasdaq Capital Market under the symbols "PUCK" and "PUCKW", respectively.

The underwriters have been granted a 45-day option to purchase up to an additional  3,375,000 units offered by the Company to cover over-allotments, if any.

EarlyBirdCapital, Inc. acted as the sole book-running manager of the offering.

Of the proceeds received from the consummation of the initial public offering and a simultaneous private placement of units, $225 million (or $10.00 per unit sold in the public offering) was placed in trust. An audited balance sheet of the Company as of the closing date reflecting receipt of the proceeds upon consummation of the initial public offering and the private placement will be included as an exhibit to a Current Report on Form 8-K to be filed by the Company with the Securities and Exchange Commission ("SEC").

Sheppard, Mullin, Richter & Hampton LLP acted as counsel to the Company and Graubard Miller acted as counsel to the underwriters.

A registration statement relating to these securities has been declared effective by the Securities and Exchange Commission on February 10, 2021. The offering is being made only by means of a prospectus, copies of which may be obtained by contacting EarlyBirdCapital, Inc., 366 Madison Avenue, 8th Floor, New York, NY 10017, Attn: Syndicate Department, 212-661-0200. Copies of the registration statement can be accessed through the SEC's website at www.sec.gov.

This press release shall not constitute an offer to sell or a 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.

About Goal Acquisitions Corp.
Goal Acquisitions Corp. is a blank check company organized for the purpose of effecting a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization, or other similar business combination with one or more businesses or entities.  The Company may pursue a business combination opportunity in any business or industry it chooses although it currently intends to focus on sports assets globally. The Company is an emerging growth company as defined in the Jumpstart Our Business Startups Act of 2012.

Forward-Looking Statements 
This press release includes forward-looking statements that involve risks and uncertainties. Forward-looking statements are statements that are not historical facts. Such forward-looking statements, including with respect to the initial public offering and the anticipated use of the proceeds thereof, are subject to risks and uncertainties, which could cause actual results to differ from the forward-looking statements, including those set forth in the risk factors section of the prospectus used in connection with the Company's initial public offering. No assurance can be given that the net proceeds of the offering will be used as indicated. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based, except as required by law.

Contact:
Harvey Schiller
info@goalacquisitions.com

 

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SOURCE Goal Acquisitions Corp.

FAQ

What was the total amount raised by Goal Acquisitions Corp. in its IPO?

Goal Acquisitions Corp. raised a total of $225 million in its initial public offering.

When did Goal Acquisitions Corp. start trading on the Nasdaq?

Goal Acquisitions Corp. began trading on the Nasdaq on February 11, 2021.

What does each unit in the IPO consist of?

Each unit consists of one share of common stock and one redeemable warrant.

What is the exercise price for the warrants issued by Goal Acquisitions Corp.?

The exercise price for the warrants is $11.50 per share of common stock.

Does Goal Acquisitions Corp. have any options for additional units in the IPO?

Yes, underwriters have a 45-day option to purchase up to an additional 3,375,000 units.