NEW YORK–(BUSINESS WIRE)–Tortoise Acquisition Corp. (the “Company”) today announced the pricing
of its initial public offering (“IPO”) of 22,500,000 units at a price of
$10.00 per unit. The units will be listed on the New York Stock Exchange
(the “NYSE”) and trade under the ticker symbol “SHLL.U” beginning
February 28, 2019. Each unit consists of one share of the Company’s
Class A common stock and one-half of one redeemable warrant, with each
whole warrant entitling the holder thereof to purchase one share of the
Company’s Class A common stock at an exercise price of $11.50 per share.
Once the securities comprising the units begin separate trading, the
shares of Class A common stock and warrants are expected to be listed on
the NYSE under the symbols “SHLL” and “SHLL WS,” respectively.
Barclays, Goldman Sachs & Co. LLC and UBS Investment Bank are acting as
joint book running managers for the offering. The Company has granted
the underwriters a 45-day option to purchase up to an additional
3,375,000 units at the initial public offering price.
The public offering is being made only by means of a prospectus. When
available, copies of the prospectus related to the offering may be
obtained from Barclays, c/o Broadridge Financial Solutions, 1155 Long
Island Avenue, Edgewood, New York 11717, email: email@example.com,
tel: (888) 603-5847; Goldman Sachs & Co. LLC, Attn: Prospectus
Department, 200 West Street, New York, New York 10282, email: firstname.lastname@example.org,
tel: (866) 471-2526; and UBS Investment Bank, Attn: Prospectus
Department, 1285 Avenue of the Americas, New York, New York 10019,
tel: (888) 827-7275.
A registration statement relating to these securities has been declared
effective by the U.S. Securities and Exchange Commission (the “SEC”) on
February 27, 2019. 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
ABOUT TORTOISE ACQUISITION CORP.
Tortoise Acquisition Corp. was formed for the purpose of effecting a
merger, capital stock exchange, asset acquisition, stock purchase,
reorganization or similar business combination. The Company intends to
focus its search for a target business in the energy industry.
FORWARD LOOKING STATEMENTS
This press release contains statements that constitute “forward-looking
statements,” including with respect to the initial public offering. No
assurance can be given that the offering discussed above will be
completed on the terms described, or at all, or that the net proceeds of
the offering will be used as indicated. 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 are available on the SEC’s
The Company undertakes no obligation to update these statements for
revisions or changes after the date of this release, except as required
Tortoise Acquisition Corp.
Vincent T. Cubbage