DEL MAR, Calif .– (COMMERCIAL THREAD) – Southport Acquisition Corporation (the “Society“) announced today that it has completed its initial public offering. The Company has sold 23,000,000 units under the offering, of which 3,000,000 have been purchased by BofA Securities, the sole underwriter for the offer, in accordance with the full exercise of the option granted to it by the Company to purchase additional units to cover the over-allotments.
The Units began trading on the New York Stock Exchange (the “”NYSE“) under the symbol” PORT.U “on December 10, 2021. Each unit consists of one class A common share of the Company and half a subscription warrant, each whole warrant entitling its holder to ” purchase one share of the Class A common shares of the Company at a price of $ 11.50 per share, subject to adjustment. Only whole warrants may be exercised. Once the securities comprising the units begin to sell To be traded separately, the Class A Common Shares and Warrants are expected to trade on the New York Stock Exchange under the symbols âPORTâ and âPORT.Wâ, respectively.
The offer is being made only by means of a prospectus. Copies of the prospectus relating to the offering may be obtained from BofA Securities, NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte NC 28255-0001, attention: Prospectus Department, or by email to dg.prospectus_requests @ bofa.com.
A registration statement relating to the securities became effective on December 9, 2021. This press release does not constitute an offer to sell or the solicitation of an offer to buy, and there will be no sale of such securities in a state or jurisdiction in which such offering, solicitation or sale would be illegal prior to registration or qualification under the securities laws of such state or jurisdiction.
The Company is a blank check company incorporated for the purpose of effecting a merger, a capital stock exchange, an acquisition of assets, a purchase of shares, a reorganization or a similar business combination with one or more companies. . While the Company may seek an acquisition opportunity in any business, industry, sector or geographic location, the Company intends to focus on acquisition opportunities in the financial software area, with particular emphasis on focus on the mortgage and real estate verticals in the United States.
This press release contains statements that constitute “forward-looking statements”, including with respect to the Company’s plans regarding the target industry of a possible business combination. No assurance can be given that the Company will ultimately complete a business combination transaction. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set out in the Risk Factors section of the Company’s registration statement and prospectus for the offer filed with the Securities. and Exchange Commission (“SECOND“). Copies of these documents are available on the SEC’s website, www.sec.gov. The Company assumes no obligation to update these statements for revisions or changes after the date of this posting, except as required by law.