Authentic Equity Acquisition Corp, a blank check company formed by Authentic Equity, has raised $200 million for its IPO after pricing its 20 million shares at $10 per share. The stock began trading January 15, 2021 on the NASDAQ under the ticker symbol “AEACU.” Jefferies LLC and BMO Capital Markets Corp are the underwriters.
RYE, N.Y., Jan. 14, 2021 /PRNewswire/ — Authentic Equity Acquisition Corp. (the “Company”), a special purpose acquisition company formed for the purpose of entering into a combination with one or more businesses, 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 Nasdaq Capital Market and trade under the ticker symbol “AEACU” beginning January 15, 2021. Each unit consists of one Class A ordinary share of the Company and one-half of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one Class A ordinary share of the Company at a price of $11.50 per share. Once the securities comprising the units begin separate trading, the Class A ordinary shares and warrants are expected to be listed on the Nasdaq Capital Market under the symbols “AEAC” and “AEACW,” respectively. The offering is expected to close on January 20, 2021, subject to customary closing conditions.
While the Company may pursue an acquisition opportunity in any business, industry, sector or geographical location, it intends to pursue investments in a broad range of consumer products and services sectors, including, but not limited to, packaged and frozen foods, beverages, beer, wine and spirits, snacks, household products, pet products, consumer and marketing services and personal care products, including health and beauty and over-the-counter products. The Company is led by Chairman and Chief Executive Officer David Hooper, President and Chief Operating Officer Thomas Flocco, and Chief Financial Officer Todd Khoury. The Company’s website is www.authenticequityacquisitioncorp.com.
Jefferies LLC and BMO Capital Markets Corp. are serving as joint book-running managers for this 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.
The offering is being made only by means of a prospectus. When available, copies of the prospectus may be obtained from: Jefferies LLC, Attn: Equity Syndicate Prospectus Department, Telephone: (877) 821-7388, email: Prospectus_Department@Jefferies.com; and BMO Capital Markets Corp, Attn: Equity Syndicate Department, 3 Times Square, 25th Floor, New York, NY 10036, Telephone: (800) 414-3627, email: firstname.lastname@example.org.
A registration statement relating to the securities became effective on January 13, 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.