Relativity Acquisition Corp. Announces Pricing of $125 Million Initial Public Offering

Rhea-AI Summary

Relativity Acquisition Corp. announced its initial public offering (IPO) pricing on February 10, 2022, offering 12.5 million units at $10.00 each. Each unit comprises one share of common stock and one redeemable warrant, permitting purchases at $11.50 per share. Trading will commence on NASDAQ under the ticker symbol 'RACYU' on February 11, 2022, with closing expected on February 15, 2022. The company aims to focus on mergers and acquisitions within the legalized cannabis sector, backed by a team with extensive industry experience.

Positive

• Initial public offering of 12.5 million units at $10.00 each indicates strong market interest.
• Focus on the burgeoning legalized cannabis industry may present significant growth opportunities.
• Experienced management team led by Tarek Tabsh could enhance operational success.

Negative

• Dependence on successful business combinations in a volatile market presents inherent risks.
• Forward-looking statements indicate uncertainty regarding IPO completion and use of proceeds.

LAS VEGAS, NV , Feb. 10, 2022 (GLOBE NEWSWIRE) -- Relativity Acquisition Corp. (the “Company”), a newly organized blank check company formed as a Delaware corporation, today announced the pricing of its initial public offering of 12,500,000 units at a price of $10.00 per unit, with each unit consisting of one share of common stock and one redeemable warrant. Each warrant will entitle the holder thereof to purchase one share of common stock at $11.50 per share. The units are expected to trade on The Nasdaq Global Market (“NASDAQ”) under the ticker symbol “RACYU” beginning February 11, 2022. Relativity Acquisition Corp. expects the initial public offering to close on February 15, 2022, subject to customary closing conditions. Once the securities comprising the units begin separate trading, the common stock and the warrants are expected to be traded on NASDAQ under the symbols “RACY” and “RACYW,” respectively.

Relativity Acquisition Corp. is a blank check company sponsored by Relativity Acquisition Sponsor LLC, a Delaware limited liability company, formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. The Company intends to focus on businesses in the legalized cannabis industry, including related industries such as consumer packaged goods, health & wellness, technology, pharmaceuticals, manufacturing, distribution, logistics and brand management. The management team and board of directors are composed of veteran cannabis and finance industry executives, led by Founder, Chairman and CEO Tarek Tabsh, known for his role as Co-Founder of pharmaceutical company Oxford Cannabinoid Technologies and 15 years of cannabis investing and industry experience.

A.G.P./Alliance Global Partners is acting as the sole book-running manager for the offering.

Brookline Capital Markets, a division of Arcadia Securities, LLC is acting as the co-manager for the offering.

Relativity Acquisition Corp. has granted the underwriters a 45-day option to purchase up to 1,875,000 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 February 10, 2022. 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. No securities regulatory authority has either approved or disapproved of the contents of this press release.

The offering is being made only by means of a prospectus, copies of which may be obtained from A.G.P./Alliance Global Partners, 590 Madison Avenue, 28th Floor, New York, NY 10022, or by telephone at (212) 624-2060, or by email at prospectus@allianceg.com or by visiting EDGAR on the SEC’s website at www.sec.gov. 

Forward-Looking Statements

This press release contains statements that constitute “forward-looking statements,” including with respect to the IPO and search for an initial 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 net proceeds of the offering will be used as indicated. 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 IPO 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.

Contacts:
For investors:

Relativity Acquisition Corp.

Tarek Tabsh, CEO
 (888)710-4420

info@relativityacquisitions.com

FAQ

What is the IPO pricing for Relativity Acquisition Corp.?

The initial public offering is priced at $10.00 per unit.

When will Relativity Acquisition Corp. start trading on NASDAQ?

Trading is expected to begin on NASDAQ under the ticker 'RACYU' on February 11, 2022.

What sectors does Relativity Acquisition Corp. target for business combinations?

The company focuses on the legalized cannabis industry and related sectors.

Who is leading Relativity Acquisition Corp.?

Tarek Tabsh is the Founder, Chairman, and CEO.

What are the risks associated with Relativity Acquisition Corp.'s IPO?

There are risks related to market volatility and uncertainty in completing business combinations.