G&P Acquisition Corp. (GAPA) Prices 17.5M Unit IPO at $10/Unit

March 11, 2021 6:01 AM EST

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G&P Acquisition Corp. (NYSE: GAPA), announced the pricing of its initial public offering of 17,500,000 units at a price of $10.00 per unit. The units will be listed on the New York Stock Exchange (the "NYSE") under the ticker symbol "GAPA.U" commencing on March 11, 2021. Each unit consists of one share of the Company's Class A common stock and one-half of one redeemable warrant, with each whole warrant entitling the holder thereof to purchase one share of the Company's Class A common stock at an exercise price of $11.50 per share. Once the securities constituting the units begin separate trading, the Class A common stock and warrants are expected to be listed on the NYSE under the symbols "GAPA" and "GAPA WS," respectively.

G&P is a blank check company newly incorporated as a Delaware corporation for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses or companies. While the Company may pursue an initial business combination target in any industry or sector, it intends to focus its search on investment opportunities in the food and beverage, consumer goods, automotive and hospitality sectors. In addition, although G&P may pursue an acquisition in any industry, sector or geography, it intends to capitalize on the ability of its management team and its sponsor's broader operating platform to identify, acquire and operate a business that may provide opportunities for attractive returns and long-term growth.

BMO Capital Markets Corp. is acting as the sole book-running manager for this offering. The Company has granted the underwriters a 45-day option to purchase up to 2,625,000 additional units at the initial public offering price to cover over-allotments, if any. The offering is expected to close on March 15, 2021, subject to customary closing conditions.

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

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