Arctos NorthStar Acquisition Corp. Announces Pricing of $275 Million Initial Public Offering
DALLAS--(BUSINESS WIRE)-- Arctos NorthStar Acquisition Corp. (the “Company”), a newly incorporated 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 initial public offering of 27,500,000 units at a price of $10.00 per unit. The units are expected to be listed on the New York Stock Exchange (the “NYSE”) and trade under the ticker symbol “ANAC.U” beginning February 23, 2021. Each unit consists of one Class A ordinary share and one-fourth of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one Class A ordinary share at a price of $11.50 per share, subject to adjustment. Only whole warrants are exercisable. Once the securities comprising the units begin separate trading, the Company expects that the Class A ordinary shares and redeemable warrants will be listed on the NYSE under the symbols “ANAC” and “ANAC WS,” respectively.
The Company is sponsored by Arctos NorthStar Acquisition Holdings, LLC, an affiliate of Arctos Sports Partners (“Arctos”). The Company will be led by Arctos Executive-in-Residence Theo Epstein, Arctos Managing Partner and co-Founder Doc O’Connor and Arctos Managing Partner and co-Founder Ian Charles. While the Company may pursue an initial business combination target in any industry, it currently intends to pursue opportunities in the sports, media and entertainment sectors.
Citigroup Global Markets Inc. is serving as sole book-running manager for the offering. The Company has granted the underwriter a 45-day option to purchase up to an additional 4,125,000 units at the initial public offering price to cover over-allotments, if any.
The offering is expected to close on February 25, 2021, subject to customary closing conditions.
The offering is being made only by means of a prospectus. When available, copies of the prospectus may be obtained from: Citigroup Global Markets Inc., Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717 or by telephone at 800-831-9146.
A registration statement relating to the securities became effective on February 22, 2021. This press release shall not constitute an offer to sell or the 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 and preliminary prospectus for the Company's offering filed with the Securities and Exchange Commission (“SEC”). Copies of these documents 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.
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Source: Arctos NorthStar Acquisition Corp.
Released February 22, 2021