ITASCA, Illinois – (BUSINESS WIRE) – April 8, 2021 –
Aldel Financial Inc. (the Company), a newly organized blank check company formed as a Delaware corporation and headed by Chairman and CEO Robert Kauffman (former co-founder of Fortress Investment Group, LLC), announced today hui the price of its initial public offering of 10,000,000 units at the offering price of $ 10.00 per unit, each unit being composed of one common share and one redeemable half-warrant. Each entire warrant will entitle its holder to purchase one common share at $ 11.50 per share. The Units are expected to trade on the New York Stock Exchange (NYSE) under the symbol ADF.U from April 9, 2021. Once the securities comprising the Units begin to trade separately, the Common Shares and the Warrants are expected to trade. on the NYSE under the symbols ADF and ADFW, respectively. The offer is expected to close on April 12, 2021 (the first business day following initial trading of the units (settlement T + 1)), subject to customary closing conditions.
ThinkEquity, a division of Fordham Financial Management, Inc., acts as the sole accounting manager of the offering. The Company has granted the underwriters a 45-day option to purchase up to 1,500,000 additional units at the initial public offering price to cover over-allotments, if any.
A registration statement relating to the securities sold under the initial public offering was declared effective by the US Securities and Exchange Commission (the SEC) on April 8, 2021. The offering is being made only by means of a prospectus . Where available, copies of the prospectus relating to this offering may be obtained from ThinkEquity, a division of Fordham Financial Management, Inc., 17 State Street, 22nd Floor, New York, New York 10004, by telephone at (877 ) 436-3673 and by email to [email protected], or by visiting EDGAR on the SEC website at www.sec.gov.
This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor any sale of such securities in any state or jurisdiction where such offer, solicitation or sale would be unlawful prior to registration or sale. qualification under the securities laws of those states or jurisdictions.
About Aldel Financial Inc.
Aldel Financial Inc. is a blank check company, also known as a Special Purpose Acquisition Company, or SPAC, formed for the purpose of effecting a merger, share exchange, asset acquisition, purchase of ” shares, reorganization or similar business combination with one or more businesses or entities. Although Aldel Financial Inc. does not limit its search for a target company to a particular business segment, it will focus its attention on companies emerging from the restructuring process or on companies whose current ownership is transitional.
Forward-looking statements
This press release contains statements that constitute forward-looking statements, in particular with regard to the company’s initial public offering (IPO) and the search for a first business combination. 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 Aldel Financial Inc., including those set out in the Risk Factors section of Aldel Financial Inc.’s registration statement and preliminary prospectus. for IPO filed with the SEC. Copies are available on the SEC website, www.sec.gov. Aldel Financial Inc. assumes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
View source version on businesswire.com:https://www.businesswire.com/news/home/20210408005982/en/
CONTACT: Robert I. Kauffman
Chief executive officer
Aldel Financial Inc.
(847) 791-6817
KEYWORD: UNITED STATES NORTH AMERICA ILLINOIS
INDUSTRY KEYWORD: FINANCING OF PROFESSIONAL SERVICES
SOURCE: Aldel Financial Inc.
Copyright Business Wire 2021.
PUB: 08/04/2021 18:33 / DISC: 08/04/2021 18:33
