CC Neuberger Principal Holdings I PCPL.u = 1C + 1/3 W
1 W + 11.50.
Chin Chu and Neuberger Berman
Goldman Sachs & Co. LLC BofA Securities UBS Investment Bank
Nomura
forward purchase agreement with Neuberger Berman Opportunistic Capital Solutions Master Fund LP (``NBOKS"), a member of our sponsor, which provides for the purchase of up to $200,000,000 of units, with each unit consisting of one Class A ordinary share and one-fourth of one warrant to purchase one Class A ordinary share at $11.50 per share, for a purchase price of $10.00 per unit, in a private placement to occur concurrently with the closing of our initial business combination. An affiliate of Koch Industries is an anchor investor in NBOKS. The forward purchase agreement allows NBOKS to be excused from its purchase obligation in connection with a specific business combination if NBOKS does not have sufficient committed capital allocated to the forward purchase agreement to fulfill its funding obligations under such forward purchase agreement in respect of such business combination.
NEW YORK, April 23, 2020 /PRNewswire/ -- CC Neuberger Principal Holdings I (the "Company") today announced the pricing of its initial public offering of 36,000,000 units at a price of $10.00 per unit. The units will be listed on the New York Stock Exchange and trade under the ticker symbol "PCPL.U" beginning April 24, 2020. Each unit consists of one Class A ordinary share of the Company and one-third of one warrant. Each whole warrant entitles the holder thereof to purchase one Class A ordinary share of the Company at a price of $11.50 per share. Once the securities comprising the units begin separate trading, the Class A ordinary shares and warrants are expected to be listed on the New York Stock Exchange under the symbols "PCPL" and "PCPL WS," respectively.
CC Neuberger Principal Holdings I, led by Chinh E. Chu, Douglas Newton, Charles Kantor and other senior professionals of CC Capital and Neuberger Berman, is a blank check company formed for the purpose of entering into a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. While the Company may pursue a business combination in any industry, the Company intends to focus its search for a business that would benefit from the founders' and management team's experience and ability to identify, acquire and manage a business in the financial, technology and business services sectors.
Goldman Sachs & Co. LLC, BofA Securities, Inc. and UBS Investment Bank are acting as joint book-running managers for the offering and Nomura is acting as co-manager for the offering. The Company has granted the underwriters a 45-day option to purchase up to an additional 5,400,000 units at the initial public offering price to cover over-allotments, if any.
The offering is being made only by means of a prospectus. When available, copies of the prospectus may be obtained from Goldman Sachs & Co. LLC, Attn: Prospectus Department, 200 West Street, New York, New York 10282, telephone: (212) 902-1171 or email: Prospectus-ny@ny.email.gs.com; BofA Securities, Inc., Attn: Prospectus Department, One Bryant Park, New York, New York 10036, telephone: (800) 294-1322 or email: dg.prospectus_request@bofa.com; or UBS Securities LLC, Attn: Prospectus Department, 1285 Avenue of the Americas, New York, New York 10019, telephone: (888) 827-7275 or email: ol-prospectusrequest@ubs.com.