Brief: Essentium To Become A Public Company Through Merger With Atlantic Coastal Acquisition Corp

Atlantic Coastal Acquisition

01/12/2021 12:27

Dec 1 (Reuters) - Atlantic Coastal Acquisition Corp
 ACAH.O :
    * ESSENTIUM, A DISRUPTIVE ADVANCED MANUFACTURING ECOSYSTEM
PROVIDER, TO BECOME A PUBLIC COMPANY THROUGH MERGER WITH
ATLANTIC COASTAL ACQUISITION CORPORATION
    * ATLANTIC COASTAL ACQUISITION CORP - COMBINED COMPANY IS
EXPECTED
TO HAVE AN IMPLIED PRO FORMA ENTERPRISE VALUE OF $974 MILLION
    * ATLANTIC COASTAL ACQUISITION CORP - COMBINED COMPANY WILL
RETAIN
ESSENTIUM NAME AND IS EXPECTED TO BE TRADED ON NASDAQ UNDER NEW
TICKER SYMBOL "ADTV"
    * ATLANTIC COASTAL ACQUISITION - EXISTING ESSENTIUM
SHAREHOLDERS,
INCLUDING BASF SE, ROLLING OVER 100% OF THEIR EQUITY INTO
COMBINED COMPANY
    * ATLANTIC COASTAL ACQUISITION CORP - DEAL INCLUDES $345
MILLION
CASH HELD IN TRUST BY ATLANTIC COASTAL, FULLY COMMITTED COMMON
STOCK PIPE OF OVER $40 MILLION
    * ATLANTIC COASTAL ACQUISITION - DEAL INCLUDES COMMITMENT BY
AFFILIATE OF ATALAYA TO CO-TENDER FOR UP TO 10 MILLION SHARES
FROM REDEEMING STOCKHOLDERS AT CLOSING
    * ATLANTIC COASTAL ACQUISITION CORP - ATLANTIC COASTAL'S
MANAGEMENT TEAM IS ALSO CONTRIBUTING $20 MILLION TO PIPE
    * ATLANTIC COASTAL ACQUISITION - FOLLOWING CLOSING, EXISTING
ESSENTIUM SHAREHOLDERS EXPECTED TO HOLD ABOUT 64% OUTSTANDING
SHARES

Source text for Eikon:  ID:nBw3fT9fha 
Further company coverage:  ACAH.O 

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