Queen's Gambit Growth Capital Announces Launch of Initial Public Offering

NEW YORK, Jan. 19, 2021 /PRNewswire/ -- Queen's Gambit Growth Capital (the "Company") announced today that it intends to commence its initial public offering (the "IPO") of 27,500,000 units at a price of $10.00 per unit. Each unit issued in the IPO will consist of one of the Company's Class A ordinary shares, par value $0.0001 per share, and one-third of one redeemable warrant, with each whole warrant entitling the holder thereof to purchase one Class A ordinary share of the Company at an exercise price of $11.50 per share. The units are expected to be listed on the NASDAQ Capital Market (the "NASDAQ") and trade under the ticker symbol "GMBTU." Once the securities comprising the units begin separate trading, the Class A ordinary shares and warrants are expected to be listed on the NASDAQ under the symbols "GMBT" and "GMBTW," respectively.

Barclays is acting as the sole book-running manager and representative for the underwriters for the proposed offering. R. Seelaus & Co., LLC and Siebert Williams Shank & Co., LLC are acting as joint co-managers for the proposed offering. The Company intends to grant the underwriters a 45-day option to purchase up to 4,125,000 additional units to cover over-allotments, if any.

The public offering will only be made by means of a prospectus. Copies of the preliminary prospectus relating to the offering and final prospectus, when available, may be obtained from Barclays, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, email: [email protected], tel: (888) 603-5847.

A registration statement relating to these securities has been filed with the U.S. Securities and Exchange Commission (the "SEC"), but has not yet become 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 an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Queen's Gambit Growth Capital

Queen's Gambit Growth Capital is an entirely female-led special purpose acquisition company, formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination. The Company, led by Founder & Chief Executive Officer Victoria Grace, who is also a founding partner of Colle Capital Partners I LP, intends to focus its search on a platform that provides disruptive solutions to its sector that promote sustainable development, economic growth and prosperity.

Forward-Looking Statements

This press release contains statements that constitute "forward-looking statements," including with respect to the proposed IPO. No assurance can be given that the 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 and preliminary prospectus for the Company's 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.

SOURCE Queen's Gambit Growth Capital