ABG Acquisition Corp. I Announces Pricing of Upsized $131 Million Initial Public Offering
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NEW YORK and HONG KONG, Feb. 16, 2021 /PRNewswire/ -- ABG Acquisition Corp. I (the "Company") today announced the pricing of its initial public offering of 13,100,000 Class A ordinary shares at a price of $10.00 per share. The shares will be listed on The Nasdaq Capital Market and trade under the ticker symbol "ABGI" beginning February 17, 2021.
ABG Acquisition Corp. I is a special purpose acquisition company formed for the purpose of entering into a combination with one or more businesses. The Company's sponsor is an affiliate of Ally Bridge Group, a global healthcare-focused investment group founded by Fan (Frank) Yu with dual headquarters in New York and Hong Kong. While the Company may pursue an initial business combination target in any business or industry, the Company intends to focus on the global healthcare industry, with a particular focus on the medical technology and biotechnology verticals. The Company is led by its Chief Executive Officer, Fan (Frank) Yu, and its Chief Financial Officer, Daniel Johnson.
Jefferies LLC is acting as the sole book-running manager of the offering. The Company has granted the underwriter a 45-day option to purchase up to an additional 1,965,000 Class A ordinary shares at the initial public offering price to cover over-allotments, if any.
The offering is being made only by means of a prospectus. When available, copies of the prospectus may be obtained from: Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, New York, New York 10022, telephone: 877-821-7388 or email: Prospectus_Department@Jefferies.com.
The registration statements relating to the securities became effective on February 16, 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.
The offering is expected to close on February 19, 2021, subject to satisfaction of customary closing conditions.
Cautionary Note Concerning Forward-Looking Statements
This press release contains statements that constitute "forward-looking statements," including with respect to the proposed initial public offering and the anticipated use of the net proceeds. No assurance can be given that the offering discussed above will be completed on the terms described, or at all, or 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 registration statement and preliminary prospectus for the Company's offering filed with the Securities and Exchange Commission (the "SEC"). Copies 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.
Daniel JohnsonChief Financial Officer of ABG Acquisition Corp. I(646)-829-9830SPAC@ally-bridge.com
SOURCE Ally Bridge Group
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