New York, NY, November 19, 2020 (GLOBE NEWSWIRE) – Cascade Acquisition Corp. (the Company) announced today that it is pricing its initial public offering of 20,000,000 units at $ 10.00 per unit. The Units will be listed on the New York Stock Exchange (NYSE) and will begin trading on Friday, November 20, 2020, under the ticker symbol CAS.U. Each unit consists of one Companys Class A common share and a redeemable half warrant, each whole warrant entitling its holder to purchase one Class A common share at a price of $ 11.50 per unit. action. Only whole warrants can be exercised. No split warrants will be issued upon separation of the units and only whole warrants will be traded. Once the securities comprising the Units begin to trade separately, the Class A Common Shares and the Warrants are expected to be listed on the NYSE under the symbols CAS and CAS.WS, respectively.
The offer is expected to close on November 24, 2020, subject to customary closing conditions.
The Company is a blank check company formed for the purpose of effecting a merger, a capital stock exchange, an acquisition of assets, a purchase of shares, a reorganization or a similar business combination with one or more companies. . While the Company may pursue goals in any industry, it intends to focus its research on the financial services industry.
Credit Suisse Securities (USA) LLC. and Morgan Stanley & Co. LLC are acting as co-bookrunners for the offering. Keefe, Bruyette & Woods, Inc. acts as the lead manager of the offering. The Company has granted the underwriters a 45 day option to purchase up to 3,000,000 additional units at the initial public offering price to cover over-allotments, if any.
The public offer is made only by means of a prospectus. Copies of the preliminary prospectus relating to the offering and of the final prospectus, when available, can be obtained from Credit Suisse Securities (USA) LLC by mail: Attention: Prospectus Department, 6933 Louis Stephens Drive, Morrisville, North Carolina 27560, by phone: 1 -800-221-1037, by e-mail: [email protected] or Morgan Stanley & Co. LLC by mail: Attention: Prospectus Department, 180 Varick Street, Second Floor, New York, NY 10014, by email: [email protected]
A registration statement relating to these securities was filed and declared effective by the Securities and Exchange Commission (SEC) on November 19, 2020. This press release does not constitute an offer to sell or the solicitation of an offer to buy , nor will there be any sale of such securities in any state or jurisdiction in which such offering, solicitation or sale would be illegal prior to the registration or qualification under securities laws of such state or jurisdiction.
This press release contains statements that constitute forward-looking statements, particularly with respect to the initial public offering and intended use of the net proceeds and with respect to any business combination or acquisition opportunity. There can be no assurance that the offer referred to above will be completed on the terms described, or not at all, or that the net proceeds of the offer 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 registration statement and the preliminary prospectus for the offering filed with the SEC. . Copies are available on the SEC’s website, www.sec.gov. The Company assumes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
Jay Levine, President and CEO
Cascade Acquisition Corp.
1900 Sunset Harbor Dr.
Miami Beach, Florida 33139
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