Periphas Capital Launching Sponsored SPAC: Periphas Capital Partnering Corporation
Periphas Capital Partnering Corporation (the "Company"), a special purpose acquisition company formed for the purpose of entering into a merger, share exchange, asset acquisition, share purchase, reorganization or similar partnering transaction with one or more businesses, today announced the launch of its initial public offering of CAPStm as discussed in a Registration Statement on Form S-1 (the "Registration Statement") initially filed with the Securities and Exchange Commission ("SEC") on October 29, 2020, in connection with the proposed initial public offering of CAPStm. The Company intends to leverage the experience of its management team in its search for a partnering transaction and its value creation strategy will be to identify and build a company in partnership with a company, its management team and existing owners.
The proposed initial public offering is expected to have a base offering size of $300 million, or up to $345 million if the underwriter's over-allotment option is exercised in full. The Company expects to list the CAPStm to be issued in the proposed initial public offering with the New York Stock Exchange and trade under the ticker symbol "PCPC.U." Each CAPStm will consist of one share of the Company's Class A common stock and one-fourth of one warrant to purchase one share of the Company's Class A common stock, which, once separated, are expected to trade under the ticker symbols "PCPC" and "PCPC WS," respectively.
Evercore Group L.L.C. is acting as the sole book-running manager for the proposed initial public offering. When available, copies of the prospectus relating to the proposed initial public offering by the Company may be obtained from Evercore Group L.L.C., Attn: Equity Capital Markets, 55 East 52nd Street, 36th Floor, New York, NY 10055, by phone at (888) 474-0200, or by email at [email protected].
The Registration Statement relating to the securities of the Company has been filed with the SEC but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the Registration Statement becomes effective. 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. No assurance can be given that the proposed initial public offering discussed above will be completed on the terms described, or at all. 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 for the Company's proposed initial public offering filed with the SEC. Copies 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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