Correction: Global Synergy Acquisition Corp. Announces Closing of $258,750,000 Initial Public Offering

January 12, 2021 11:58 PM EST

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NEW YORK, NY, Jan. 12, 2021 (GLOBE NEWSWIRE) -- Global Synergy Acquisition Corp. (Nasdaq: GSAQU) (“GSAC” or the “Company”) announced today the closing of its initial public offering (“IPO”) of 25,875,000 units, including 3,375,000 units issued to the underwriters upon the full exercise of their over-allotment option, at a price to the public of $10.00 per unit, resulting in gross proceeds of $258,750,000. The units began trading on The Nasdaq Capital Market (“Nasdaq”) under the symbol “GSAQU” on January 8, 2021. Each unit issued in the IPO consists of one Class A ordinary share and one-half of one redeemable warrant, with each whole warrant entitling the holder thereof to purchase one Class A ordinary share at a price of $11.50 per share. Once the securities comprising the units begin separate trading, the Class A ordinary shares and the warrants are expected to be traded on Nasdaq under the symbols “GSAQ” and “GSAQW,” respectively. No fractional warrants will be issued upon separation of the units and only whole warrants will trade. The Company is a blank-check company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses.

While the Company may pursue an initial business combination with a company in any sector or geography, the Company intends to capitalize on the ability of its management team and board of directors to identify, acquire and manage a business that can benefit from the team’s operational and investing expertise in the IT Services and Business Process Outsourcing sectors.

GSAC is co-led by President and Co-CEO Alok Oberoi and Co-CEO Suresh Vaswani. Alok Oberoi is the Executive Chairman of the Everstone Group, Co-Founder and Chairman of the ACPI Group and a former partner at Goldman Sachs. Suresh Vaswani is a former President of Dell Services and former Co-CEO of Wipro’s IT Business. GSAC’s COO and CFO is Murtaza Moochhala, a veteran investor in the IT Services and Business Process Outsourcing sectors and a former partner at CVCI Private Equity.

GSAC’s board of directors is chaired by Hank Uberoi, former CEO and Executive Chairman of Earthport PLC, former COO at Citadel Investment Group and a former partner and Co-COO of the Technology Division at Goldman Sachs. The board also includes Brooks Entwistle, former Chief Business Officer International at Uber, former CEO of Everstone Capital and a former partner at Goldman Sachs; Ben Druskin, former Chairman of the Global Technology, Media and Telecom Investment Banking Group at Citi and a board member at Endava PLC; and Kirk Wagar, former United States Ambassador to the Republic of Singapore.

Credit Suisse Securities (USA) LLC and J.P. Morgan Securities LLC acted as the book-running managers.

The offering is being made only by means of a prospectus. Copies of the prospectus may be obtained from Credit Suisse Securities (USA) LLC, Attn: Prospectus Department, 6933 Louis Stephens Drive, Morrisville, North Carolina 27560, Telephone: 1-800-221-1037, Email: usa.prospectus@credit-suisse.com and J.P Morgan Securities LLC, Attn: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, Telephone: 1-866- 803-9204, Email: prospectus-eq_fi@jpmorgan.com.

The registration statement relating to the securities became effective on January 7, 2021.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Forward-Looking Statements

This press release contains statements that constitute “forward-looking statements,” including with respect to the search for an initial business combination and the anticipated use of the net proceeds. No assurance can be given that  the net proceeds of the offering will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s prospectus for the Company’s offering filed with the U.S. Securities and Exchange Commission (the “SEC”). Copies of these documents are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Contact

Murtaza MoochhalaChief Operating Officer and Chief Financial OfficerGlobal Synergy Acquisition Corp.mmoochhala@gsacglobal.com

Source: Global Synergy Acquisition Corp.


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