An email has been sent to your address with instructions for changing your password.
There is no user registered with this email.
Sign Up
To create a free account, please fill out the form below.
Thank you for signing up!
A confirmation email has been sent to your email address. Please check your email and follow the instructions in the message to complete the registration process. If you do not receive the email, please check your spam folder or contact us for assistance.
Welcome to our platform!
Oops!
Something went wrong while trying to create your new account. Please try again and if the problem persist, Email Us to receive support.
Sound Point Acquisition Corp I, Ltd has announced the pricing of its upsized initial public offering of 22,500,000 units at $10.00 per unit. These units will trade under the ticker symbol SPCMU starting March 2, 2022. Each unit includes one Class A ordinary share and one-half of a redeemable warrant. The full warrant allows purchasing an additional share at $11.50. The offering is expected to close on March 4, 2022, subject to customary conditions. The company has also provided underwriters a 45-day option for additional units.
Positive
Upsized IPO of 22,500,000 units at $10.00, potentially increasing capital inflow.
Warrants provide an opportunity for additional funding if exercised.
Negative
The company has not identified specific business targets for acquisition, which may introduce uncertainty.
Depending on market conditions, completion of the offering may face risks, as mentioned in forward-looking statements.
NEW YORK--(BUSINESS WIRE)--
Sound Point Acquisition Corp I, Ltd (the “Company”) announced today the pricing of its upsized initial public offering of 22,500,000 units at $10.00 per unit. The units will be listed on the Nasdaq Global Market (“Nasdaq”) in the United States and trade under the ticker symbol “SPCMU” beginning on March 2, 2022.
Each unit offered for sale consists of one of the Company’s Class A ordinary shares and one-half of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one Class A ordinary share at a price of $11.50 per share. Once the securities comprising the units begin separate trading, the Class A ordinary shares and warrants are expected to be listed on Nasdaq under the symbols “SPCM” and “SPCMW,” respectively. The offering is expected to close on March 4, 2022, subject to customary closing conditions.
BofA Securities and J.P. Morgan are serving as the joint book-running managers for the offering and AmeriVet Securities and SPC Capital Markets are serving as co-managers for the offering. The Company has granted the underwriters a 45-day option to purchase up to an additional 3,375,000 units at the initial public offering price to cover over-allotments, if any.
The offering is being made only by means of a prospectus. Copies of the prospectus may be obtained from: BofA Securities, NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte, NC 28255-001, Attn: Prospectus Department, Email: dg.prospectus_requests@bofa.com or J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: 1-866-803-9204, or by email at prospectus-eq_fi@jpmchase.com.
A registration statement relating to the securities has been declared effective by the Securities and Exchange Commission (“SEC”) on March 1, 2022. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities issued by the Company, 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.
This press release contains statements that constitute “forward-looking statements,” including with respect to the proposed initial public offering and the anticipated use of the net proceeds thereof. 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 Company’s 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.
About Sound Point Acquisition Corp I, Ltd
Sound Point Acquisition Corp I, Ltd is a special purpose acquisition company and was 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 has not selected any specific business combination target but intends to concentrate its efforts in sectors where Sound Point Capital Management, LP, an affiliate of the Company’s sponsor, maintains a deep level of relationships and experience.
