Horizon Acquisition Corporation II Announces Pricing of $500 Million Initial Public Offering
Horizon Acquisition Corporation II (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 50,000,000 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 "HZON.U" beginning October 20, 2020. Each unit consists of one Class A ordinary share and one-third 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. 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 "HZON" and "HZON WS," respectively.
The Company is sponsored by Horizon II Sponsor, LLC, an affiliate of Eldridge Industries, LLC ("Eldridge") and MRC (aka Valence Media Partners, LLC). The Company will be led by Todd Boehly, the Co-founder, Chairman, and Chief Executive Officer of Eldridge. Asif Satchu and Modi Wiczyk, co-CEOs of MRC, will serve on the board of directors of the Company alongside Todd Boehly and Jason Robins, the CEO of Draftkings, Inc. While the Company may pursue an initial business combination target in any industry, it currently intends to concentrate its search for a target business operating in the media and entertainment industries, with a focus on businesses with differentiated product and service offerings.
Deutsche Bank Securities Inc. is serving as lead book-running manager for the offering. Credit Suisse Securities (USA) LLC and RBC Capital Markets, LLC are serving as book-running managers for the offering. The Company has granted the underwriters a 45-day option to purchase up to an additional 7,500,000 units at the initial public offering price to cover over-allotments, if any.
The offering is expected to close on October 22, 2020, 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: Deutsche Bank Securities Inc., Attn: Prospectus Department, 60 Wall Street, New York, New York 10005, Telephone: 1-800-503-4611, email: [email protected]; Credit Suisse Securities (USA) LLC, Attn: Prospectus Department, 6933 Louis Stephens Drive, Morrisville, NC 27560, Telephone: 1-800-221-1037, email: [email protected]; or RBC Capital Markets, LLC, Attention: Equity Syndicate, 200 Vesey Street, 8th Floor, New York, New York 10281, Telephone at 1-877-822-4089, email: [email protected].
A registration statement relating to the securities became effective on October 19, 2020. 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.
Forward-Looking Statements
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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