African Gold Acquisition Corp. (AGAC) Prices 36M Unit Upsized IPO at $10/Unit
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African Gold Acquisition Corporation (NYSE: AGAC) announced today the pricing of its upsized initial public offering of 36,000,000 units at a price of $10.00 per unit. The units will be listed on The New York Stock Exchange (the “NYSE”) and trade under the ticker symbol “AGAC.U” beginning on February 26, 2021. Each unit consists of one Class A ordinary share and three-quarters of one redeemable warrant, with each whole warrant exercisable to purchase one Class A ordinary share at a price of $11.50 per share. After the securities comprising the units begin separate trading, the Class A ordinary shares and warrants are expected to be listed the NYSE under the symbols “AGAC” and “AGAC.W,” respectively. The offering is expected to close on March 2, 2021.
African Gold Acquisition Corporation is a blank check company incorporated for the purpose of effecting a merger, amalgamation, share exchange, share purchase, asset acquisition, reorganization or similar business combination with one or more businesses. While the Company may pursue a business combination target in any industry, the Company intends to focus on a target with operations or prospective operations in the gold mining sector. The Company is led by Chairman Robert Hersov, Vice Chairman Brian Hinchcliffe, Chief Executive Officer Christopher Chadwick and Chief Financial Officer Cooper Morgenthau.
B. Riley Securities, Inc. is acting as the sole book running manager of the offering. The Company has granted the underwriters 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 February 25, 2021.
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Create E-mail Alert Related CategoriesCorporate News, Equity Offerings, IPOs, SPAC
Related EntitiesB. Riley, Definitive Agreement, IPO, SPAC
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