NEW YORK–(BUSINESS WIRE)–Sound Point Acquisition Corp I, Ltd (the “Company”) today announced the price of its increased initial public offering of 22,500,000 units at $10.00 per unit. The Units will be listed on the Nasdaq Global Market (“Nasdaq”) in the United States and trade under the symbol “SPCMU” from March 2, 2022.
Each unit offered for sale consists of one Class A common share of the Company and one-half redeemable warrant. Each whole warrant entitles its holder to purchase one Class A common share at a price of $11.50 per share. Once the securities comprising the units begin trading separately, the Class A common stock and the warrants are expected to trade on Nasdaq under the symbols “SPCM” and “SPCMW”, respectively. The offering is expected to close on March 4, 2022, subject to customary closing conditions.
BofA Securities and JP Morgan are acting as joint bookrunners for the offering and AmeriVet Securities and SPC Capital Markets are acting as co-managers for the offering. The Company has granted the underwriters a 45-day option to purchase up to an additional 3,375,000 units at the initial public offering price to cover over-allotments, if any.
The offering is made solely by means of a prospectus. Copies of the prospectus may be obtained from: BofA Securities, NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte, NC 28255-001, Attn: Prospectus Department, Email: [email protected] or JP Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, phone: 1-866-803-9204, or by email at [email protected]
A registration statement relating to the securities was declared effective by the Securities and Exchange Commission (“SEC”) on March 1, 2022. This press release does not constitute an offer to sell or the solicitation of an offer to buy securities issued by the Company, and there will be no sale of such 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 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 intended use of the net proceeds thereof. No guarantee can be given that the offer described above will be carried out 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 Company’s control, including those set forth in the Risk Factors section of the Company’s registration statement and the Company’s filed preliminary offering prospectus. 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 release, except as required by law.
About Sound Point Acquisition Corp I, Ltd
Sound Point Acquisition Corp I, Ltd is a special purpose acquisition company and was formed for the purpose of effecting a merger, stock exchange, asset acquisition, stock purchase, reorganization or a similar business combination with one or more companies. The Company has not selected any specific business combination targets, but intends to focus its efforts in areas where Sound Point Capital Management, LP, a subsidiary of the Company’s sponsor, has a high level of relationship and of experience.