HONG KONG, June 9, 2021 /PRNewswire/ -- Summit Healthcare
Acquisition Corp. (the "Company") today announced the pricing on
June 8, 2021 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 "SMIHU"
beginning June 9, 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 "SMIH" and "SMIHW,"
respectively.
BofA Securities, Inc. is acting as the sole book-running
manager of the 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: BofA
Securities, Inc., NC1-004-03-43, 200 North College Street, 3rd
floor, Charlotte NC 28255-0001, Attn: Prospectus Department
or by emailing dg.prospectus_requests@bofa.com.
The registration statement relating to the securities became
effective on June 8, 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 June
11, 2021, subject to satisfaction of customary closing
conditions.
The Company is a blank check company organized for the purpose
of effecting a merger, share exchange, asset acquisition, share
purchase, reorganization or similar business combination with one
or more businesses or entities. The Company's efforts to identify a
prospective target business will not be limited to any particular
geographic region or industry. The Company is led by
Bo Tan, the Company's Chief
Executive Officer and Co-Chief Investment Officer, Ken Poon, the Company's President and Co-Chief
Investment Officer, and Wei Fu, the
Company's Honorary Chairman and Senior Advisor.
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 ("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.
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SOURCE Summit Healthcare Acquisition Corp.