The Music Acquisition Corporation (TMAC) Prices 20M Unit IPO at $10/Unit

February 3, 2021 5:40 AM EST
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The Music Acquisition Corporation (NYSE: TMAC) today announced the pricing of its initial public offering of 20,000,000 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 “TMAC.U” beginning on February 3, 2021. Each unit consists of one share of Class A common stock and one-half of one redeemable warrant, with each whole warrant exercisable to purchase one share of Class A common stock at a price of $11.50 per share. After the securities comprising the units begin separate trading, the shares of Class A common stock and warrants are expected to be listed on the NYSE under the symbols “TMAC” and “TMAC WS,” respectively. The offering is expected to close on February 5, 2021, subject to customary closing conditions.

The Music Acquisition Corporation is a blank check company whose business purpose is to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. While the Company may pursue an initial business combination target in any industry or geographic region, the Company intends to focus its search for an initial business combination on businesses that are either directly or indirectly connected with the music sector, with particular emphasis on businesses where the Company’s significant strategic and operational expertise and long-standing position within the music industry will be a value-additive proposition to potential target businesses. The Company is led by Chairman and Chief Executive Officer Neil Jacobson and Chief Operating Officer Todd Lowen. In addition to Messrs. Jacobson and Lowen, the Company’s Board of Directors includes Michael Levitt, Ben Silverman, and Tunde Balogun.

Citigroup Global Markets Inc. and Cantor Fitzgerald & Co. are acting as joint bookrunning 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.



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