HumanCo Acquisition Corp. Announces Pricing of Upsized $250 Million Initial Public Offering
AUSTIN, Texas, Dec. 08, 2020 (GLOBE NEWSWIRE) — HumanCo Acquisition Corp. (the “Company”) today announced the pricing of its upsized initial public offering of 25,000,000 units at a price of $10.00 per unit. The units are expected to be listed for trading on The Nasdaq Capital Market (“Nasdaq”) under the ticker symbol “HMCOU” beginning December 9, 2020. Each unit consists of one share of the Company’s Class A common stock and one-half of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one share of Class A common stock at a price of $11.50 per share. The Company is led by Jason H. Karp, its Executive Co-Chairman, Rohan Oza, its Co-Chairman, Ross Berman, its Chief Executive Officer, Brett Thomas, its President, and Amy Zipper, its Chief Operating Officer.
The Company has also entered into a unit purchase agreement with CAVU Venture Partners III, LP (“CAVU”) for the purchase of 2,500,000 units at a price of $10.00 per unit, which purchase will take place in a private placement to close substantially concurrently with the closing of the Company’s initial public offering. The units to be sold to CAVU are identical to the units sold in the offering, except as described in this prospectus.Once the securities comprising the units begin separate trading, the Company expects that its Class A common stock and warrants will be listed on Nasdaq under the symbols “HMCO” and “HMCOW,” respectively.The Company was formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. Although the Company’s efforts to identify a prospective business combination opportunity will not be limited to a particular industry, it intends to focus on the industries that complement its management team’s background and to capitalize on their demonstrated ability to identify and acquire businesses focusing on Health and Wellness and related industries in the United States. Citigroup is acting as sole book-running manager. The Company has granted the underwriter a 45-day option to purchase up to 3,750,000 additional units at the initial public offering price to cover over-allotments, if any.The public offering is being made only by means of a prospectus. When available, copies of the prospectus relating to the offering may be obtained from Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at (800) 831-9146.A registration statement relating to the securities became effective on December 8, 2020. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities, 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. The offering is expected to close on December 11, 2020, subject to customary closing conditions.The securities to be sold to CAVU in the private placement have not been registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of such Act and applicable state securities laws.Forward-Looking StatementsThis press release contains statements that constitute “forward-looking statements,” including with respect to the proposed initial public offering and the Company’s plans with respect to the target industry for a potential business combination. No assurance can be given that the offering discussed above will be completed on the terms described, or at all, or 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 forth in the Risk Factors section of the Company’s registration statement and preliminary prospectus for the Company’s offering filed with the U.S. Securities and Exchange Commission (the “SEC”). Copies of these documents are available on the SEC’s website, at 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.Contact:
Amy Zipper
Chief Operating Officer
amy@humanco.com
The Company has also entered into a unit purchase agreement with CAVU Venture Partners III, LP (“CAVU”) for the purchase of 2,500,000 units at a price of $10.00 per unit, which purchase will take place in a private placement to close substantially concurrently with the closing of the Company’s initial public offering. The units to be sold to CAVU are identical to the units sold in the offering, except as described in this prospectus.Once the securities comprising the units begin separate trading, the Company expects that its Class A common stock and warrants will be listed on Nasdaq under the symbols “HMCO” and “HMCOW,” respectively.The Company was formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. Although the Company’s efforts to identify a prospective business combination opportunity will not be limited to a particular industry, it intends to focus on the industries that complement its management team’s background and to capitalize on their demonstrated ability to identify and acquire businesses focusing on Health and Wellness and related industries in the United States. Citigroup is acting as sole book-running manager. The Company has granted the underwriter a 45-day option to purchase up to 3,750,000 additional units at the initial public offering price to cover over-allotments, if any.The public offering is being made only by means of a prospectus. When available, copies of the prospectus relating to the offering may be obtained from Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at (800) 831-9146.A registration statement relating to the securities became effective on December 8, 2020. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities, 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. The offering is expected to close on December 11, 2020, subject to customary closing conditions.The securities to be sold to CAVU in the private placement have not been registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of such Act and applicable state securities laws.Forward-Looking StatementsThis press release contains statements that constitute “forward-looking statements,” including with respect to the proposed initial public offering and the Company’s plans with respect to the target industry for a potential business combination. No assurance can be given that the offering discussed above will be completed on the terms described, or at all, or 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 forth in the Risk Factors section of the Company’s registration statement and preliminary prospectus for the Company’s offering filed with the U.S. Securities and Exchange Commission (the “SEC”). Copies of these documents are available on the SEC’s website, at 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.Contact:
Amy Zipper
Chief Operating Officer
amy@humanco.com
