Permanent Capital Vehicle formed by Crescent Capital Group LP, Robert
D. Beyer and Todd M. Purdy
LOS ANGELES–(BUSINESS WIRE)–Crescent Acquisition Corp (NASDAQ: CRSAU) (the “Company”)
announced today that it priced its initial public offering of 25,000,000
units at $10.00 per unit. The units will be listed on The Nasdaq Capital
Market (“Nasdaq”) and trade under the ticker symbol “CRSAU” beginning
March 8, 2019. Each unit consists of one share of 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. Only whole warrants are exercisable. Once the
securities comprising the units begin separate trading, the shares of
Class A common stock and warrants are expected to be listed on Nasdaq
under the symbols “CRSA” and “CRSAW,” respectively.
Crescent Acquisition Corp, formed by Crescent Capital Group LP, Robert
D. Beyer and Todd M. Purdy, is a permanent capital vehicle 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. The Company may pursue an
initial business combination target in any business, sector or geography.
Credit Suisse and BofA Merrill Lynch are acting as joint book-running
managers and I-Bankers Securities, Inc. is acting as co-manager of the
offering. The Company has granted the underwriters a 45-day option to
purchase up to an additional 3,750,000 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 may be obtained from Credit Suisse,
Attn: Prospectus Department, Eleven Madison Avenue, 3rd floor, New York,
NY 10010, Telephone: 1-800-221-1037, Email: usa.prospectus@credit-suisse.com
or from BofA Merrill Lynch, Attn: Prospectus Department, NC1-004-03-43,
200 North College Street, 3rd floor, Charlotte, NC 28255-0001, Email: dg.prospectus_requests@baml.com.
A registration statement relating to the securities has been declared
effective by the U.S. Securities and Exchange Commission (the “SEC”) on
March 7, 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
jurisdiction.
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
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.
Contacts
Investor Relations
Crescent Acquisition Corp
Addo
Investor Relations
Lasse Glassen
310-829-5400
