Simon Property Group Acquisition Holdings, Inc. Completes $345 Million Initial Public Offering
Simon Property Group Acquisition Holdings, Inc. (the “Company”) today announced the closing of its initial public offering of 34,500,000 units, including the full exercise of the underwriter’s option to purchase additional units. The offering was priced at $10.00 per unit, resulting in gross proceeds of $345,000,000, before deducting underwriting discounts and commissions and other offering expenses payable by the Company.
The units are listed on the New York Stock Exchange (“NYSE”) under the symbol “SPGS.U” and began trading on February 19, 2021. Each unit consists of one share of Class A common stock of the Company and one-fifth of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one share of Class A common stock at an exercise price of $11.50 per share. Once the securities constituting the units begin separate trading, the Company expects the Class A common stock and warrants will be listed on the NYSE under the symbols “SPGS” and “SPGS WS,” respectively.
The Company is sponsored by SPG Sponsor, LLC, an indirect wholly owned subsidiary of Simon Property Group, Inc., a global leader in the ownership of premier shopping, dining, entertainment and mixed-use destinations. 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 or companies. It may pursue a business combination in any industry; however, it is targeting innovative businesses that operate in the “Live, Work, Play, Stay, Shop” ecosystem.
Goldman Sachs & Co. LLC is the underwriter for the offering.
This 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 Goldman Sachs & Co. LLC Attention: Prospectus Department, 200 West Street, New York, New York 10282; telephone: 1-866-471-2526; or by email: email@example.com
A registration statement relating to these securities has been declared effective by the U.S. Securities and Exchange Commission (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.