Twin Ridge Capital Acquisition Corp. Announces Pricing of $200 Million Initial Public Offering
Twin Ridge Capital Acquisition Corp. announced its initial public offering (IPO) of 20 million units priced at $10.00 each, set to debut on the NYSE under the symbol “TRCA.U” on March 4, 2021. Each unit includes one Class A ordinary share and one-third of a redeemable warrant, with full warrants priced at $11.50 per share. The offering could expand by an additional 3 million units through an underwriter's option. This venture is supported by Twin Ridge Capital Management and targets opportunities in consumer and distribution sectors. The IPO is expected to close on March 8, 2021.
- Listed 20 million units priced at $10.00 each, indicating strong market interest.
- Potential to raise additional funds through the underwriters’ 45-day option for 3 million more units.
- Targeting growth in consumer and distribution industries, which may offer significant opportunities.
- Forward-looking statements caution that the offering may not complete as described, introducing uncertainty.
MENLO PARK, Calif., March 03, 2021 (GLOBE NEWSWIRE) -- Twin Ridge Capital Acquisition Corp. (the “Company”), a newly incorporated blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses, today announced the pricing of its initial public offering of 20,000,000 units at a price of
The Company is sponsored by Twin Ridge Capital Sponsor, LLC, an affiliate of Twin Ridge Capital Management (“Twin Ridge”). The Company will be led by Twin Ridge Partners Dale Morrison, Sanjay K. Morey and William P. Russell, Jr. While the Company may pursue an initial business combination target in any industry, it currently intends to pursue opportunities in the consumer and distribution related and adjacent industries.
Barclays Capital Inc. and Evercore Group L.L.C. are serving as joint book-running managers for the offering. The Company has granted the underwriters a 45-day option to purchase up to an additional 3,000,000 units at the initial public offering price to cover over-allotments, if any.
The offering is expected to close on March 8, 2021, subject to customary closing conditions.
The offering is being made only by means of a prospectus. When available, copies of the prospectus may be obtained from Barclays Capital Inc. c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by email at Barclaysprospectus@broadridge.com or by telephone at (888) 603-5847 and/or Evercore Group L.L.C., Attn: Equity Capital Markets, 55 East 52nd Street, 36th Floor, New York, NY 10055, by phone at (888) 474-0200, or by email at ecm.prospectus@evercore.com.
A registration statement relating to the securities became effective on March 3, 2021. 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.
Forward-Looking Statements
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. 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 Securities and Exchange Commission (“SEC”). Copies of these documents 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
info@twinridgecapital.com
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