SPAC Corner Growth Acquisition Corp raises $350m for IPO

Corner Growth Acquisition Corp, a blank check company, has debuted its IPO after pricing its 35 million shares at $10 per share.

Corner Growth Acquisition Corp, a blank check company, has debuted its IPO after pricing its 35 million shares at $10 per share. The stock began trading December 17, 2020 on the NASDAQ under the ticker symbol “COOLU.” Cantor Fitzgerald was the underwriter.

PRESS RELEASE

PALO ALTO, Calif.–(BUSINESS WIRE)–Corner Growth Acquisition Corp. (the “Company”), a special purpose acquisition 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, today announced the pricing of its upsized initial public offering of 35,000,000 units at a price of $10.00 per unit. The units will be listed on The Nasdaq Stock Market LLC and trade under the ticker symbol “COOLU” beginning December 17, 2020. Each unit consists of one Class A ordinary share of the Company and one-third 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 Stock Market LLC under the symbols “COOL” and “COOLW” respectively.

Led by Co-Chairman John Cadeddu, Co-Chairman and Chief Executive Officer Marvin Tien and a team of venture capital investors, the Company expects to focus on the technology industry in the United States and other developed countries.

Cantor Fitzgerald & Co. is serving as sole book-running manager for this offering. The Company has granted the underwriters a 45-day option to purchase up to an additional 5,250,000 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: Cantor Fitzgerald & Co., Attn: Capital Markets, 499 Park Avenue, 5th Floor, New York, New York, 10022; Email: prospectus@cantor.com.

The registration statement relating to the securities became effective on December 16, 2020. 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 December 21, 2020, subject to customary closing conditions.