ACCESS Newswire
11 May 2022, 03:43 GMT+10
MONTEREY, CA / ACCESSWIRE / May 10, 2022 / Monterey Capital Acquisition Corporation (the 'Company') announced today that it priced its initial public offering of 8,000,000 units at $10.00 per unit. The units will be listed on the Nasdaq Global Market ('Nasdaq') and will begin trading tomorrow, May 11, 2022, under the ticker symbol 'MCACU'. Each unit consists of one share of Class A common stock, one redeemable warrant and one right to receive one-tenth (1/10) of one share of Class A common stock upon consummation of the Company's initial business combination. Each warrant entitles the holder thereof to purchase one share of Class A common stock at a price of $11.50 per share. Once the securities comprising the units begin separate trading, shares of the Class A common stock, warrants and rights are expected to be listed on Nasdaq under the symbols 'MCAC', 'MCACW' and 'MCACR', respectively.
EF Hutton, division of Benchmark Investments, LLC ('EF Hutton'), is acting as the sole book running manager for the offering. The Company has granted the underwriter a 45-day option to purchase up to an additional 1,200,000 units at the initial public offering price to cover over-allotments, if any. The offering is expected to close on May 13, 2022, subject to customary closing conditions.
Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. is serving as legal counsel to the Company. Seward & Kissel LLP is serving as counsel to EF Hutton.
The offering is being made only by means of a prospectus. Copies of the prospectus may be obtained, when available, from EF Hutton, Attn: Syndicate Department, 590 Madison Ave., 39th Floor, New York, New York 10022, by telephone at (212) 404-7002, by fax at (646) 861-4697, or by email at [email protected].
A registration statement on Form S-1 (File No. 333-264460) relating to these securities has been filed with, and declared effective by, the Securities and Exchange Commission ('SEC') on May 10, 2022. A final prospectus relating to this offering will be filed with the SEC. 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 MONTEREY CAPITAL ACQUISITION CORPORATION
The Company is a newly organized blank check company 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. While it may pursue an initial business combination target in any business, industry, or geographical location, the Company intends to focus its search on businesses in the clean transition sector. The Company is led by Bala Padmakumar, the Company's Chief Executive Officer and Chairman of the Board, Vivek Soni, the Company's Executive Vice President and Director, and Daniel Davis, the Company's Chief Financial Officer.
FORWARD-LOOKING STATEMENTS
This press release contains statements that constitute 'forward-looking statements,' including with respect to the Company's initial public offering. 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 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.
Company Contact:
Bala Padmakumar
Chief Executive Officer and Chairman of the Board
Monterey Capital Acquisition Corporation
Email: [email protected]
Phone: (831) 649-7388
SOURCE: Monterey Capital Acquisition Corporation
Get a daily dose of Chicago Chronicle news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Chicago Chronicle.
More InformationWASHINGTON, D.C.: Filmmaker Peter Jackson's lifelong fascination with the extinct giant New Zealand flightless bird called the moa...
NEW DELHI, India: India has submitted a revised proposal to the World Trade Organization (WTO) in Geneva to implement retaliatory tariffs...
SAN FRANCISCO, California: Nvidia, the Silicon Valley chipmaker at the heart of the artificial intelligence boom, this week briefly...
REDMOND, Washington: Artificial intelligence is transforming Microsoft's bottom line. The company saved over US$500 million last year...
WASHINGTON, D.C.: A federal rule designed to make it easier for Americans to cancel subscriptions has been blocked by a U.S. appeals...
BASTROP, Texas: In a surprising turn at Elon Musk's X platform, CEO Linda Yaccarino announced she is stepping down, just months after...
WASHINGTON, D.C.: An elaborate impersonation scheme involving artificial intelligence targeted senior U.S. and foreign officials in...
(Photo credit: David Richard-Imagn Images) In a span of 10 pitches Saturday, the Cincinnati Reds ensured they wouldn't be swept for...
(Photo credit: Eric Canha-Imagn Images) In his 51st career start, Garrett Crochet accomplished two feats in one dominant outing:...
(Photo credit: Matt Marton-Imagn Images) Anders Dreyer recorded a first-half brace, and Western Conference-leading San Diego FC withstood...
(Photo credit: Stan Szeto-Imagn Images) SONOMA, Calif. - In closing laps of the Pit Boss/FoodMaxx 250 at Sonoma Raceway, the pupil...
(Photo credit: Patrick Gorski-Imagn Images) Kyle Manzardo hit a go-ahead solo home run in the sixth inning and Tanner Bibee earned...