Social Sciences

Science Strategic Acquisition Corp. Alpha Announces Closing of $310.5 Million Initial Public …

Written by Mamie M. Arndt

Press release content from Globe Newswire. The AP news staff was not involved in its creation.

SANTA MONICA, Calif., Jan. 28, 2021 (GLOBE NEWSWIRE) — Science Strategic Acquisition Corp. Alpha (the “Company”) announced today that it closed its initial public offering of 31,050,000 units at $10.00 per unit, including 4,050,000 units sold pursuant to the underwriter’s exercise of the over-allotment option in full. The gross proceeds from the offering were $310.5 million before deducting underwriting discounts and estimated offering expenses.

The units began trading on the Nasdaq Capital Market under the ticker symbol “SSAAU” on January 26, 2021. Each unit consists of one share of the Company’s Class A common stock and one-third of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one share of the Company’s 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 Class A common stock and redeemable warrants are expected to be listed on the Nasdaq Capital Market under the symbols “SSAA” and “SSAAW,” respectively.

The Company is a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. The Company intends to focus on businesses operating in the direct-to-consumer brands, direct-to-consumer services and mobile and social entertainment sectors.

Credit Suisse is acting as sole book-running manager. 

The offering was made only by means of a prospectus. Copies of the prospectus may be obtained from Credit Suisse Securities (USA) LLC, Attn: Prospectus Department, 6933 Louis Stephens Drive, Morrisville, North Carolina 27560, Telephone: 1-800-221-1037, Email: [email protected] 

The registration statement relating to the securities became effective on January 25, 2021. 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.

Forward-Looking Statements

This press release contains statements that constitute “forward-looking statements,” including with respect to the anticipated use of the net proceeds. No assurance can be given 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 final prospectus relating to the offering filed with the U.S. Securities and Exchange Commission (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.

Investor Contact
Priscilla Guevara
[email protected]

About the author

Mamie M. Arndt