NEW YORK, Nov. 18, 2021 (GLOBE NEWSWIRE) -- bleuacacia ltd (the “Company” or “acacia blue”), today announced the pricing of its upsized initial public offering of 24,000,000 units at a price of $10.00 per unit. Each unit consists of one Class A ordinary share of the Company, a right to one-sixteenth of one Class A ordinary share, and one-half of one redeemable warrant, each whole warrant entitling the holder thereof to purchase one Class A ordinary share at an exercise price of $11.50 per share. The Company’s units are expected to be listed on the Nasdaq Global Market (“Nasdaq”) and trade under the ticker symbol “BLEUU” beginning November 18, 2021. Once the securities comprising the units begin separate trading, the Class A ordinary shares, rights and warrants are expected to be listed on Nasdaq under the symbols “BLEU”, “BLEUR”, and “BLEUW”, respectively. No fractional warrants will be issued upon separation of the units and only whole warrants will trade.
The Company is focused on partnering with dynamic leaders to accelerate the growth of globally-relevant consumer-facing brands. The acacia blue team is defined by its deep and diverse operating experience, and is led by co-CEOs and co-Chairmen Jide Zeitlin and Lew Frankfort. The Company’s President and Chief Operating Officer is Charlie McGuigan and its Executive Director is Tom Northover.
While the Company may pursue an initial business combination opportunity in any industry or sector, it intends to identify and complete a business transaction in the consumer and retail sectors.
Credit Suisse and Citigroup are acting as joint book-running managers for the offering. Rice Financial Products is acting as co-manager. The Company has granted the underwriters a 45-day option to purchase up to 3,600,000 units at the initial public offering price to cover over-allotments, if any. The offering is being made only by means of a prospectus. When available, copies of the prospectus related to the offering may be obtained for free by visiting EDGAR on the SEC's website at www.sec.gov; from Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, 6933 Louis Stephens Drive, Morrisville, NC 27560, Telephone: 1-800-221-1037, email: firstname.lastname@example.org; or from Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, Attention: Prospectus Department, 1155 Long Island Avenue, Edgewood, New York 11717, Telephone: 1-800-831-9146, email: email@example.com.
A registration statement relating to these securities was declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on November 17, 2021. 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. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act of 1933, as amended. The offering is expected to close on November 22, 2021, subject to customary closing conditions.
This press release contains statements that constitute "forward-looking statements," including with respect to the 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 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 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.