Accelerate Acquisition Corp. (AAQC) Prices 40M Unit IPO at $10/Unit

March 18, 2021 6:31 AM EDT

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Accelerate Acquisition Corp. (NYSE: AAQC), a blank check company led by Robert Nardelli, Michael Simoff and Jeffrey Kaplan, and 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, today announced the pricing of its initial public offering of 40,000,000 units at a price of $10.00 per unit. The units will be listed on the New York Stock Exchange and trade under the ticker symbol “AAQC.U” beginning March 18, 2021. Each unit consists of one share of Class A common stock of the Company and one-third of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one share of Class A common stock of the Company at a price of $11.50 per share, subject to adjustment, and only whole warrants are exercisable. Once the securities comprising the units begin separate trading, the shares of Class A common stock and warrants are expected to be listed on the New York Stock Exchange under the symbols “AAQC” and “AAQC WS,” respectively. No fractional warrants will be issued upon separation of the units and only whole warrants will trade.

The offering is expected to close on March 22, 2021, subject to customary closing conditions.

UBS Investment Bank is acting as sole book-running manager for the offering. The Company has granted the underwriters a 45-day option to purchase up to 6,000,000 additional units at the initial public offering price, less the underwriting discounts and commissions. The option may be exercised only to cover any over-allotments of units.

The offering is being made only by means of a prospectus.



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