DENVER, Oct. 28, 2021 /PRNewswire/ -- Accretion Acquisition Corp. (NASDAQ: ENERU) (the "Company") announced that it completed the sale of an additional 2,700,000 units at a public offering price of $10.00 per unit as a result of the underwriters' full exercise of the over-allotment option granted in connection with the Company's initial public offering. After giving effect to the exercise of the option, an aggregate of 20,700,000 units have been issued in the initial public offering for aggregate gross proceeds of $207,000,000.
Each unit consists of one share of common stock, one right to receive one-tenth of one share of common stock upon the consummation of an initial business combination, and one-half of one warrant, with each whole warrant entitling the holder thereof to purchase one share of common stock at a price of $11.50 per share, subject to adjustment. Once the securities comprising the units begin separate trading, the common stock, rights, and warrants are expected to be listed on Nasdaq under the symbols "ENER," "ENERR," and "ENERW," respectively.
EarlyBirdCapital, Inc. and Stephens Inc. acted as book-running managers for the offering.
The public offering was made by means of a prospectus. Copies of the preliminary prospectus relating to the offering and final prospectus, may be obtained from EarlyBirdCapital, Inc., Attention: Syndicate Department, 366 Madison Avenue, 8th Floor, New York, NY 10017, or by telephone at (212) 661-0200, or Stephens Inc., Attention: Prospectus Department, 111 Center Street, Little Rock, AR 72201, by telephone at (800) 643-9691 or by email at [email protected].
Registration statements relating to these securities have been filed with the Securities and Exchange Commission and became effective on October 20, 2021. 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.
Accretion Acquisition Corp. is a blank check company organized for the purpose of effecting a merger, share exchange, asset acquisition, stock purchase, recapitalization or other 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 industry or geographic region.
Forward Looking Statements
This press release includes forward-looking statements that involve risks and uncertainties. Forward looking statements are statements that are not historical facts. Such forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ from the forward looking statements. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.
SOURCE Accretion Acquisition Corp.