Rotor Acquisition Corp. Announces Closing of Upsized $276,000,000 Initial Public Offering
20 Januar 2021 - 10:30PM
Rotor Acquisition Corp. (the “Company”) announced today that it
consummated its upsized initial public offering of 27,600,000
units, including the full 3,600,000 units subject to the
underwriters’ over-allotment option, at $10.00 per unit, generating
total proceeds of $276,000,000. The units were listed on the New
York Stock Exchange (“NYSE”) under the ticker symbol “ROT.U” and
began trading on Friday, January 15, 2021,. Each unit consists of
one share of the Company’s Class A common stock
and one-half of one redeemable warrant, each whole
warrant entitling the holder thereof to purchase one share of
Class A common stock at a price of $11.50 per share, subject
to adjustment. Only whole warrants are exercisable and will trade.
Once the securities comprising the units begin separate trading,
shares of the Class A common stock and redeemable warrants are
expected to be listed on the NYSE under the symbols “ROT” and “ROT
WS,” respectively.
Rotor Acquisition Corp. is a 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 or entities. While the
Company may pursue an initial target business in any stage of its
corporate evolution or in any industry or sector, it initially
intends to focus its search on target businesses primarily in the
industrial and consumer sectors. The Company’s management team
includes Brian Finn, Chief Executive Officer, Stefan M. Selig,
Chairman of the Board, and John D. Howard, Director.
Credit Suisse Securities (USA) LLC acted as the sole book
running manager for the offering.
The offering was made only by means of a prospectus. Copies of
the prospectus may be obtained, when available, from Credit Suisse
Securities (USA) LLC, Attention: Prospectus Department, 6933 Louis
Stephens Drive, Morrisville, North Carolina 27560, or by telephone
at (800) 221-1037, or by email at
usa.prospectus@credit-suisse.com.
Registration statements relating to these securities have been
filed with the Securities and Exchange Commission (“SEC”) and
became effective on January 14, 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 an 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 initial
public offering and the anticipated use of 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 registration statement and final prospectus for the
offering filed with 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.
Contacts
Brian D. FinnChief Executive Officer(212) 818-8800
Rotor Acquisition (NYSE:ROT.U)
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