Avanti Acquisition Corp. Announces Pricing of Upsized $600,000,000 Initial Public Offering
Avanti Acquisition Corp. (the “Company”), a blank check 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 60,000,000 units at a price of $10.00 per unit. The Company is sponsored by Avanti Acquisition SCSp, an affiliate of NNS Group, the private family office of Nassef Sawiris and Sienna Capital, a subsidiary of Groupe Bruxelles Lambert. The Company intends to be sector agnostic and to focus on European family owned or founder led businesses with a US nexus. The units are expected to be listed on the New York Stock Exchange (the “NYSE”) and trade under the ticker symbol “AVAN.U” beginning October 2, 2020. Each unit consists of one Class A ordinary share and one-half of one redeemable warrant. Each whole warrant may be exercised for one Class A ordinary share at a price of $11.50 per share. Only whole warrants are exercisable. Once the securities comprising the units begin separate trading, the Class A ordinary shares and warrants are expected to be listed on the NYSE under the symbols “AVAN” and “AVAN WS,” respectively.
The offering is expected to close on October 6, 2020, subject to customary closing conditions.
Citigroup Global Markets Inc. and Goldman Sachs & Co. LLC are serving as the joint book-running managers for the offering. The Company has granted the underwriters a 45-day option to purchase up to an additional 9,000,000 units at the initial public offering price to cover over-allotments, if any.
When available, copies of the prospectus may be obtained from Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717; telephone: 1-800-831-9146 or by contacting Mihir Unadkat, Director; telephone: +44 20-7986-0015; email: email@example.com and from Goldman Sachs & Co. LLC, Prospectus Department, 200 West Street, New York, NY 10282; telephone: 1-866-471-2526; email: Prospectusfirstname.lastname@example.org.
Registration statements relating to the securities became effective by the Securities and Exchange Commission on October 1, 2020. This press release shall not constitute an offer to sell or a 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.
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 for the Company’s offering filed with the Securities and Exchange Commission (“SEC”) and the preliminary prospectus included therein. 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.
+1 (345) 814-5831
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Bentley Systems Announces Winners of Year in Infrastructure 2020 Awards21.10.2020 20:30:00 CEST | Press release
Bentley Systems, Incorporated, (Nasdaq: BSY), the infrastructure engineering software company, has announced the winners of the Year in Infrastructure 2020 Awards. The annual awards program honors the extraordinary work of Bentley users advancing design, construction, and operations of infrastructure throughout the world. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201021005893/en/ All Year in Infrastructure 2020 Award winners, finalists, and nominees will be featured in the 2020 Infrastructure Yearbook, which will be published in early 2021. (Photo: Business Wire) Sixteen independent jury panels selected the 57 finalists from over 400 nominations submitted by more than 330 organizations from more than 60 countries. Bentley Systems acknowledged 19 Year in Infrastructure 2020 Awards winners and 14 Special Recognition awardees on October 21 during the Year in Infrastructure 2020 Conference, held virtually for the first time
Saudi Arabia Sets out Strategy to Become a World Leader in Artificial Intelligence By 203021.10.2020 18:07:00 CEST | Press release
Saudi Arabia revealed its National Strategy for Data & AI (NSDAI) which will make the country a global leader in Artificial Intelligence by 2030. Saudi Arabia’s NSDAI intends to put AI at the heart of the country’s development and growth. By 2030, Saudi Arabia’s vision is to become the place where the best of Data and AI is made reality. Under the strategy, Saudi Arabia will implement a multi-phase, multi-faceted plan that includes skills, policy and regulation, investment, research and innovation, and ecosystem development. This will enable the country to become a global hub for data and AI, and to rank among the top data-driven economies in the world. Speaking at the launch of the strategy, HE Dr. Abdullah Bin Sharaf Alghamdi, President of SDAIA, said: “The National Strategy for Data and AI sets the direction and foundations upon which we will unlock the potential of data and AI to fulfill our national transformation priorities and establish Saudi Arabia as a global hub for data and
Women 20 (W20) Challenges G20 Leaders to Close the Gap Between Imagination and Reality on Women’s Equality21.10.2020 18:01:00 CEST | Press release
Women 20 (W20), the women’s engagement group to the G20, challenged G20 leaders to live up to their promises of the past and make women’s economic equality a reality. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201021005766/en/ W20 Chair Dr. Thoraya Al Obaid and G20 Chair of Trade and Investment His Excellency Dr. Majid Alqassabi with the final Communiqué of the W20 Working Group (Photo: AETOSWire) Laying out measures to expedite the economic recovery from the COVID-19 pandemic, the W20 presented its Communiqué to H.E. Dr. Majid Alqassabi, Minister of Commerce, Chair of G20 Trade and Investment, representing the Presidency of the G20. The pandemic provides an opportunity for G20 leaders to reset G20 economies based on the full and equitable participation of women. “Unless urgent action is taken, the pandemic will continue to exacerbate gender inequalities, expose vulnerabilities, and roll back gains made on women’s equali
Saudi Arabia Partners With the World Bank to Ensure No Nation Is Left Behind on AI21.10.2020 17:59:00 CEST | Press release
The World Bank and Saudi Arabia have announced a long-term partnership to accelerate the use of Artificial Intelligence (AI) in developing nations in support of economic and development goals. The objective is to ensure that no nation is left behind in the race to unlock the value of AI while ensuring the appropriate safeguards are in place to manage the risks associated with AI. Under the partnership, the World Bank and Saudi Arabia, represented by the Saudi Data and Artificial Intelligence Authority (SDAIA), will cooperate to assist countries in creating policies and initiatives that harness the power of AI to support national development and growth. AI and related technologies are expected to unlock an additional $15tn of economic value worldwide before 2030, but many developing nations do not have yet the technical readiness to share in this new wealth. The partnership will support target nations to identify gaps in their own readiness and ability to utilize AI and data and develop
Taulia Appoints Andy Lee as Director, Supply Chain Finance21.10.2020 16:30:00 CEST | Press release
Taulia, the leader in working capital technology solutions, has today announced the appointment of Andy Lee as Director, Supply Chain Finance. Based in New York, Lee will be responsible for expanding Taulia's funding partners, building strategic relationships and supporting product development in North America. “The natural next step for our growing team was to bring someone onboard with deep experience within the banking sector and superior knowledge of the fintech space. Andy will enable us to develop the right financial partnerships so that we can continue to offer a disruptive and valuable service to our customers,” says Alexander Mutter, Managing Director of Capital Markets, Taulia. “In these unprecedented times, supply chain finance has been a key source of working capital for businesses large and small. I’m looking forward to diving right in, driving strategic relationships and building connections with our North American partners that will help expand access to these solutions,
Eaton Launches New Metal 3D Printing Program to Reduce Development Time, Improve Efficiency21.10.2020 16:00:00 CEST | Press release
Power management company Eaton today announced its Vehicle Group is implementing a new 3D metal printing program as a part of its Industry 4.0 strategy to reduce development time and improve efficiency. The first metal printer system was installed at the Kings Mountain, N.C., facility, and a global deployment of 3D polymer printing technology is slated to be completed by first-quarter 2021. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201021005571/en/ Eaton’s Vehicle Group reduced cost and development time using its 3D metal printing capabilities to produce this oil fill nozzle. (Photo: Business Wire) The 3D printers are being utilized to create high-quality fixtures, safety devices, automation grippers for assembly and handling, and maintenance components requiring replacement. Prototype development is following the same strategy to support faster product development trials and improve efficiency. Improving output and eff
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.Visit our pressroom