DALLAS, TX, March 10, 2022 (GLOBE NEWSWIRE) — via NewMediaWire – Nubia Brand International Corp. (the “Company”) announced today that it has priced its initial public offering of 11,000,000 units at $10.00 per unit. The units will be listed on the Nasdaq Global Market (“Nasdaq”) and will begin trading tomorrow, March 11, 2022, under the symbol “NUBIU”. Each unit consists of one Class A common share of the Company and one-half redeemable warrant. Each whole warrant entitles its holder to purchase one Class A common share at a price of $11.50 per share. Only whole Warrants are exercisable and will be traded. Once the securities comprising the units begin trading separately, the Class A common stock and the warrants are expected to trade on Nasdaq under the symbols “NUBI” and “NUBIW”, respectively.
The Company is a blank check corporation incorporated for the purpose of effecting a merger, stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses . The Company has not selected any specific business combination target and has not engaged, or anyone on its behalf, in substantive discussions, directly or indirectly, with any business combination target. Although the Company may pursue an initial business combination target in any business or industry, it intends to focus its research on wireless carriers.
Patrick Orlando and Arthur Percy will serve as special advisors to the Company’s Board of Directors (the “Board”) and Alexander Monje will act as Chairman of the Board. Management of the Company will be led by Jaymes Winters, the Company’s Chief Executive Officer, and Vlad Prantsevich, the Company’s Chief Financial Officer.
EF Hutton, a division of Benchmark Investments, LLC, is acting as the sole portfolio manager for the Offering. The Company has granted the underwriters a 45-day option to purchase up to an additional 1,650,000 units at the initial public offering price to cover over-allotments, if any. The offering is expected to close on March 15, 2022, subject to customary closing conditions.
Loeb & Loeb LLP is acting as legal counsel to the Company. Hogan Lovells US LLP is legal counsel to EF Hutton, a division of Benchmark Investments, LLC.
The offering is being made solely by means of a prospectus. Copies of the prospectus may be obtained, when available, from EF Hutton, division of Benchmark Investments, LLC, Attn: Syndicate Department, 590 Madison Ave., 39th Floor, New York, New York 10022, by telephone at (212) 404-7002, by fax at (646) 861-4697 or by email at [email protected].
A registration statement relating to these securities has been filed with and declared effective by the Securities and Exchange Commission (“SEC”) on March 10, 2022, together with a registration statement on Form S-1MEF (File No. 333-263465), was filed with the SEC on the same date and is effective upon filing. A final prospectus relating to this offering will be filed with the SEC. This press release does not constitute an offer to sell or the solicitation of an offer to buy, and there will be no 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 such state or territory.
This press release contains statements that constitute “forward-looking statements”, including with respect to the Company’s initial public offering. No guarantee can be given that the offer described above will be carried out according to the conditions described, or not at all. Forward-looking statements are subject to numerous conditions, many of which are beyond the Company’s control, including those set forth in the Risk Factors section of the Company’s registration statement and the preliminary offering prospectus filed with the DRY. Copies are available on the SEC’s website, www.sec.gov. The Company assumes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
Chief Executive Officer
Email: [email protected]
Phone: (972) 918-5120