MCAP Acquisition Corp. (MACQ) Prices 27.5M Unit Upsized IPO at $10/Unit

February 26, 2021 5:55 AM EST

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MCAP Acquisition Corporation (NASDAQ: MACQ), a special purpose acquisition company sponsored by an affiliate of Monroe Capital LLC, today announced the pricing of its initial public offering of 27,500,000 units at a price of $10.00 per unit. Each unit consists of one share of Class A common stock and one-third of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one share of Class A common stock at a price of $11.50 per share. The Company’s units are expected to be listed on the Nasdaq Stock Market and trade under the symbol “MACQU” beginning February 26, 2021. Once the securities comprising the units begin separate trading, the Company expects that its Class A common stock and warrants will be listed on the Nasdaq Stock Market and trade under the symbols “MACQ” and “MACQW,” respectively. The offering is expected to close on March 2, 2021, subject to customary closing conditions.

MCAP is a newly organized blank check company 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. The Company’s sponsor, MCAP Acquisition, LLC (the “Sponsor”), is managed by an affiliate of Monroe Capital LLC.

MCAP may pursue an initial business combination target in any business, industry or sector, but it intends to capitalize on the differentiated ability of the Sponsor’s manager to source, acquire and manage software, technology-enabled, and business services companies.

The Company is led by CEO and Chairman Theodore Koenig, who is President and CEO of Monroe Capital and the CEO and Chairman of Monroe Capital Corporation (Nasdaq: MRCC). He is joined by Co-President Zia Uddin, who is a Partner at Monroe Capital; Co-President Mark Solovy, who serves as a Managing Director and Co-Head of the Technology Finance Group at Monroe Capital; and CFO Scott Marienau, who is the CFO of Monroe Capital’s management company.

Cowen is serving as the sole book-running underwriter for the offering. The Company has granted the underwriters a 45-day option from the date of the prospectus to purchase up to an additional 4,125,000 units to cover over-allotments, if any.

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



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