Revelstone Capital Acquisition Corp. - RCACU STOCK NEWS

Revelstone Capital Acquisition Corp. announced a partial exercise of its underwriters' over-allotment option, resulting in the purchase of 1,500,000 units at $10.00 each, generating gross proceeds of $15 million. This follows the issuance of 16,500,000 units during its initial public offering, totaling $165 million in gross proceeds. The units consist of shares of Class A common stock and redeemable warrants, which will be traded separately under the symbols RCAC and RCACW. The offering was managed by BofA Securities and Roth Capital Partners.

Revelstone Capital Acquisition Corp. has successfully closed its initial public offering, raising $150 million by issuing 15 million units at $10.00 per unit. Each unit comprises one share of Class A common stock and half a redeemable warrant. The units began trading on December 17, 2021, under the symbol RCACU. The underwriters have the option to purchase an additional 2.25 million units. Revelstone aims to pursue business combinations in the consumer, media, and technology sectors.

Revelstone Capital Acquisition Corp. has priced its initial public offering (IPO) of 15 million units at $10.00 per unit, scheduled to trade on Nasdaq under the ticker symbol RCACU starting December 17, 2021. Each unit comprises one share of Class A common stock and one-half of a redeemable warrant, enabling the purchase of common stock at $11.50 per share. The offering, expected to close on December 21, 2021, includes a 45-day over-allotment option for underwriters BofA Securities and Roth Capital Partners.