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Tortoise Acquisition Corp. Announces Launch of Initial Public Offering
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Tortoise Acquisition Corp. Announces Launch of Initial Public Offering

NEW YORK–(BUSINESS WIRE)–Tortoise Acquisition Corp. (the “Company”) announced today that it
intends to commence its initial public offering of 22,500,000 units at
$10.00 per unit. The Company intends to grant the underwriters a 45-day
option to purchase up to 3,375,000 additional units. Each unit issued in
the initial public offering will consist of one share of the Company’s
Class A common stock and one-half of one redeemable warrant, 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.
The units are expected to be listed on the New York Stock Exchange (the
“NYSE”) and trade under the ticker symbol “SHLL.U.” 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.

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.

Barclays, Goldman Sachs & Co. LLC and UBS Investment Bank are acting as
joint book-running managers for the proposed offering. The public
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 Barclays, c/o Broadridge Financial
Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, email:,
tel: (888) 603-5847; Goldman Sachs & Co. LLC, Attn: Prospectus
Department, 200 West Street, New York, New York 10282, email:,
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 filed
with the U.S. Securities and Exchange Commission (the “SEC”), but has
not yet become effective. These securities may not be sold nor may
offers to buy be accepted prior to the time the registration statement
becomes effective. 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


This press release contains statements that constitute
“forward-looking statements,” including with respect to the proposed
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 Company’s offering filed with the SEC.
Copies are available on the SEC’s website,
The Company undertakes no obligation to update these statements for
revisions or changes after the date of this release, except as required
by law.


Tortoise Acquisition Corp.
Vincent T. Cubbage

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