Senior Connect Acquisition Corp. I Announces Pricing of $360 Million Upsized Initial Public Offering
Senior Connect Acquisition Corp. I has announced the pricing of its initial public offering of 36 million units at $10.00 each, set to trade on Nasdaq under the symbol 'SNRHU' starting December 11, 2020. Each unit includes one share of Class A common stock and half a redeemable warrant, with full warrants priced at $11.50. The offering will close on December 15, 2020, with Citigroup Global Markets acting as the sole bookrunner. The company aims to merge or acquire businesses, particularly within the senior market sector.
- Initial public offering of 36 million units at $10.00 each indicates strong investor interest.
- Focus on the senior market could lead to substantial growth opportunities.
- Future business combinations remain uncertain, with risks related to successful execution.
Scottsdale, AZ , Dec. 10, 2020 (GLOBE NEWSWIRE) -- Senior Connect Acquisition Corp. I (the "Company") announced today the pricing of its initial public offering of 36,000,000 units at a price of
The Company is a blank check company whose business purpose is to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. While the Company may pursue an initial business combination with a company in any sector or geography, the Company intends to focus its search on businesses serving the senior market or capable of being repositioned to do so.
Citigroup Global Markets Inc. is acting as the sole bookrunner for the offering. The Company has granted the underwriter a 45-day option to purchase up to an additional 5,400,000 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 December 10, 2020. 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.
The offering is being made only by means of a prospectus. When available, copies of the prospectus relating to this offering may be obtained from Citigroup Global Markets Inc., Attention: Prospectus Department, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at (800) 831-9146.
Forward Looking Statements
This press release contains statements that constitute "forward-looking statements," including with respect to the initial public offering 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 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 for the initial public offering 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
Investor Contact:
Ryan Burke
Senior Connect Acquisition Corp. I
(480) 948-9200
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