MANHATTAN BEACH, Calif.--(BUSINESS WIRE)--Acies Acquisition Corp. (NASDAQ: ACACU) announced today the closing of its initial public offering of 20,000,000 units at a price to the public of $10.00 per unit. The units began trading on The Nasdaq Capital Market under the ticker symbol "ACACU" on October 23, 2020. Each unit consists of one Class A ordinary share and one-third of one warrant, each whole warrant entitling the holder 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 ordinary shares and warrants are expected to be traded on The Nasdaq Capital Market under the symbols "ACAC" and "ACACW," respectively. No fractional warrants will be issued upon separation of the units and only whole warrants will trade.
Morgan Stanley, J.P. Morgan and Oppenheimer & Co. Inc. were the book-running managers of the offering. The underwriters have been granted a 45-day option to purchase up to an additional 3,000,000 units offered by the Company to cover over-allotments, if any.
“With today’s closing, we are excited at the prospect of forming a long-term partnership with an exceptional management team in the experiential entertainment industry,” said Dan Fetters and Edward King, Co-CEOs of Acies Acquisition Corp. “Our Board, management and co-founderscomprise entrepreneurs and accomplished operators, enabling us to bring deep and practical experience, as well as capital, to a new partnership. Our decades of industry experience, extensive professional network and proven deal-making record distinguish Acies. We look forward to leveraging the full depth of these capabilities for the benefit of our prospective business partner and our shareholders.”
Ellenoff Grossman & Schole LLP acted as U.S. counsel to the Company and Skadden, Arps, Slate, Meagher & Flom LLP acted as counsel to the underwriters.
About Acies Acquisition Corp.
The Company is a newly organized blank check company, formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. While the Company has not selected any potential business combination target, it is focused on identifying a business combination target within the live, location-based and mobile experiential entertainment industries. Specific sectors that the Company will target span live events, family entertainment, casino gaming, destination hospitality, sports, sports betting and iGaming, and social and casual mobile games. The Company plans on pursuing both consumer-facing operators as well as the business-to-business platforms that support them. While predominantly focused on the U.S., the Company’s search may expand to international markets.
