Altitude Acquisition Corp. Pronounces Closing of $300 Million Preliminary Public Providing Nasdaq:ALTUU
ATLANTA, Dec 11, 2020 (GLOBE NEWSWIRE) – Altitude Acquisition Corp. (Nasdaq: ALTUU) (the “Company”) announced today that the initial public offering of 30,000,000 units, including 3,900,000 units exercised, has been completed by subscribers of its greenshoe option. The offering was priced at $ 10.00 per unit, resulting in gross proceeds of $ 300,000,000.
The Shares are listed on the Nasdaq Capital Market (“Nasdaq”) and began trading on December 9, 2020 under the ticker symbol “ALTUU”. Each share consists of one Class A common share and one half of a redeemable warrant. One Class A common share can be purchased for each entire warrant at a price of $ 11.50 per share. Only whole warrants can be exercised. Once the securities of the Shares are separately traded, the Class A common stocks and warrants are expected to be listed on the Nasdaq under the symbols “ALTU” and “ALTUW”, respectively.
Altitude Acquisition Corp. is a blank check company formed for the purpose of conducting a merger, stock exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more companies. The Company intends to focus on travel, travel technology and travel-related businesses with an enterprise value of $ 1 billion or more, with an emphasis on either business-to-business (“B2B”) or business-to-consumer (“B2C “) Is to have compelling growth opportunities with strong underlying demand drivers.
Cantor Fitzgerald & Co. acted as sole bookrunner and Odeon Capital Group, LLC acted as lead manager of the offering.
Of the proceeds from the completion of the IPO and the simultaneous private placement of warrants, USD 300,000,000 (or USD 10.00 per unit sold in the public offering) was entrusted. An audited balance sheet of the Company as of December 11, 2020, reflecting receipt of proceeds following the completion of the IPO and private placement, will be included as an exhibit on a current report on Form 8-K, which the Company is required to file with US Securities and Exchange Commission (the “SEC”).
The offer was only made by means of a prospectus. Copies of the prospectus for this offering may be obtained, if available, from Cantor Fitzgerald & Co., Attention Capital Markets, 499 Park Avenue, 5th Floor, New York, NY 10022, or by [email protected]
A registration statement regarding these securities was declared effective by the SEC on December 8, 2020. This press release does not constitute an offer, solicitation or solicitation of an offer to buy, nor will any sale of these securities be made in any state or jurisdiction in which such offer, solicitation or sale is prior to registration or qualification under the securities laws of any such state or jurisdiction would be unlawful.
This press release contains statements that constitute “forward-looking statements,” including relating to the IPO and the search for an initial business combination. No assurance can be given that the proceeds of the offer will be used as stated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the company, including those set out in the Risk Factors section of the company’s registration statement and prospectus for the company’s SEC filing. Copies are available on the SEC’s website at www.sec.gov. The company assumes no obligation to update these statements for changes or additions after the date of this publication, unless required by law.