{"id":413615,"date":"2021-01-12T16:58:45","date_gmt":"2021-01-12T21:58:45","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=413615"},"modified":"2021-01-12T16:58:45","modified_gmt":"2021-01-12T21:58:45","slug":"provident-acquisition-corp-announces-closing-of230-million-initial-public-offering","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/provident-acquisition-corp-announces-closing-of230-million-initial-public-offering\/","title":{"rendered":"Provident Acquisition Corp. Announces Closing of$230 Million Initial Public Offering"},"content":{"rendered":"

<\/p>\n

Provident Acquisition Corp. Announces Closing of<\/b>$230 Million Initial Public Offering<\/b><\/p>\n

HONG KONG–(BUSINESS WIRE<\/a>)–
\nProvident Acquisition Corp. (the \u201cCompany\u201d) today announced the closing of its initial public offering of 23,000,000 units at a price of $10.00 per unit, including an additional 3,000,000 units sold pursuant to the full exercise of the underwriters\u2019 over-allotment option. The units began trading on the Nasdaq Capital Market under the ticker symbol \u201cPAQCU\u201d beginning January 8, 2021. Each unit consists of one of the Company\u2019s Class A ordinary shares and one-half of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one Class A ordinary share at a price of $11.50 per share. Once the securities comprising the units begin separate trading, the Company expects that its Class A ordinary shares and warrants will be listed on the Nasdaq Capital Market under the symbols \u201cPAQC\u201d and \u201cPAQCW,\u201d respectively.\n<\/p>\n

\nThe Company was formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. Although the Company\u2019s efforts to identify a prospective business combination opportunity will not be limited to a particular industry, it intends to focus on consumption-focused companies with disruptive growth potential that have operations or prospective operations in Asia, with a particular focus on the technology sector in Southeast Asia.\n<\/p>\n

\nCitigroup Global Markets Inc. is acting as sole bookrunner. The public offering is being made only by means of a prospectus. Copies of the prospectus relating to the offering may be obtained from Citigroup Global Markets Inc., c\/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, via telephone at 1-800-831-9146 or via email prospectus@citi.com<\/a>.\n<\/p>\n

\nA registration statement relating to the securities became effective on January 7, 2021. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities, 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.\n<\/p>\n

Forward-Looking Statements <\/b><\/p>\n

\nThis press release contains statements that constitute \u201cforward-looking statements,\u201d including with respect to the initial public offering and the Company\u2019s plans with respect to the target industry for a potential business combination. No assurance can be given that the offering discussed above will be completed on the terms described, or at all, or that the Company will ultimately complete a business combination transaction. 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\u2019s registration statement and preliminary prospectus for the Company\u2019s offering filed with the U.S. Securities and Exchange Commission (the \u201cSEC\u201d). Copies of these documents are available on the SEC\u2019s website, at www.sec.gov<\/a>. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.\n<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20210112006099\/en\/<\/a><\/span><\/p>\n

\nMichael Aw
\n
Chief Executive Officer
\n
Unit 11C\/D, Kimley Commercial Building
\n
142 \u2013 146 Queen\u2019s Road Central
\n
Hong Kong
\n
+852 6191 3317
\n
michael.aw@procap-partners.com<\/a><\/p>\n

KEYWORDS:<\/b> Hong Kong United States North America Asia Pacific<\/p>\n

INDUSTRY KEYWORDS:<\/b> Finance Banking Professional Services Other Technology Technology<\/p>\n

MEDIA:<\/b><\/p>\n\n","protected":false},"excerpt":{"rendered":"

Provident Acquisition Corp. Announces Closing of$230 Million Initial Public Offering HONG KONG–(BUSINESS WIRE)– Provident Acquisition Corp. (the \u201cCompany\u201d) today announced the closing of its initial public offering of 23,000,000 units at a price of $10.00 per unit, including an additional 3,000,000 units sold pursuant to the full exercise of the underwriters\u2019 over-allotment option. The units began trading on the Nasdaq Capital Market under the ticker symbol \u201cPAQCU\u201d beginning January 8, 2021. Each unit consists of one of the Company\u2019s Class A ordinary shares and one-half of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one Class A ordinary share at a price of $11.50 per share. Once the securities comprising the units begin separate trading, the … <\/p>\n

Continue reading “Provident Acquisition Corp. Announces Closing of$230 Million Initial Public Offering”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-413615","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nProvident Acquisition Corp. Announces Closing of$230 Million Initial Public Offering - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/provident-acquisition-corp-announces-closing-of230-million-initial-public-offering\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Provident Acquisition Corp. 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