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Banner Acquisition Corp. announces closing of $ 150,000,000 initial public offering

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LEHI, Utah, September 10, 2021 / PRNewswire / – Banner Acquisition Corp. (the “Company”) today announced the closing of its initial public offering (“IPO”) of 15,000,000 units at a price of $ 10.00 per unit. The Units are listed on the NASDAQ Capital Market (“NASDAQ”) and trade under the ticker symbol “BNNRU”. Each unit consists of one Class A common share of the Company and a redeemable half-warrant, each whole warrant entitling its holder to purchase one Class A common share of the Company at a price of $ 11.50 per share, subject to adjustment. Once the securities comprising the Units begin to trade separately, the Class A Common Shares and the Public Warrants will be listed on the NASDAQ under the symbols “BNNR” and “BNNRW”, respectively.

(PRNewsfoto / Banner Acquisition Corp.)

(PRNewsfoto / Banner Acquisition Corp.)

Banner Acquisition Corp. intends to seek partnership with family businesses or run by founders.

BofA Securities, Inc. is acting as sole manager and underwriter for the IPO. The Company has granted the underwriter a 45-day option to purchase up to 2,250,000 additional units at the initial public offering price less the underwriting discount.

The public offer is made only by means of a prospectus. Copies of the IPO prospectus can be obtained from BofA Securities, Inc., NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte North Carolina 28255-0001, for the attention of: Service Prospectus, or by e-mail [email protected]

A registration statement relating to these securities was declared effective by the United States Securities and Exchange Commission (the “SEC”) on September 7, 2021. This press release does not constitute an offer to sell or the solicitation of an offer to buy, and there will be no sale of such securities in any state or jurisdiction in which such an offer, solicitation or sale would be illegal. prior to registration or qualification under the securities laws of any such state or jurisdiction.

ABOUT BANNER ACQUISITION CORP.

Banner Acquisition Corp. is a blank check company formed for the purpose of effecting a merger, stock exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The Company intends to seek partnerships with businesses that are family-owned or run by industry-leading founders and incumbent management teams who seek to retain their significant stake in the business they have built for a long time. term. Banner Acquisition Corp. is sponsored by a subsidiary of Banner Ventures and led by Christophe christensen, who acts as chairman of the board, and Tanner Ainge, who performs the functions of chief executive officer and director.

FORWARD-LOOKING STATEMENTS

This press release contains statements that constitute “forward-looking statements”, including with respect to the IPO and the intended use of net proceeds therefrom. No guarantee can be given that the net proceeds of the IPO 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 out in the Risk Factors section of the Company’s registration statement and preliminary prospectus for the Company’s offer filed. with the SEC. Copies are available on the SEC website, www.sec.gov. The Company assumes no obligation to update these statements for revisions or changes after the date of this posting, except as required by law.

Contacts

Banner Acquisition Corp.
Tanner Ainge
[email protected]

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SOURCE Banner Acquisition Corp.

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