CC Neuberger Principal Holdings I Announces the Separate Trading of its Class A Ordinary Shares and Warrants Commencing June 15, 2020

NEW YORK, June 12, 2020 /PRNewswire/ -- CC Neuberger Principal Holdings I (NYSE: PCPL.U) (the "Company") announced that, commencing June 15, 2020, holders of the units sold in the Company's initial public offering of 41,400,000 units, completed on April 28, 2020, may elect to separately trade the Class A ordinary shares and warrants included in the units. Those units not separated will continue to trade on the New York Stock Exchange ("NYSE") under the symbol "PCPL.U," and the Class A ordinary shares and warrants that are separated will trade on the NYSE under the symbols "PCPL" and "PCPL WS," respectively. Holders of units will need to have their brokers contact Continental Stock Transfer & Trust Company, the Company's transfer agent, in order to separate the units into Class A ordinary shares and warrants.

The units were initially offered by the Company in an underwritten offering. Goldman Sachs & Co. LLC, BofA Securities and UBS Investment Bank acted as joint book-running managers and Nomura Securities International, Inc. acted as co-manager for the offering.  A registration statement relating to the units and the underlying securities was declared effective by the Securities and Exchange Commission (the "SEC") on April 23, 2020.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities of the Company, 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. The offering was made only by means of a prospectus. 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: [email protected]; BofA Securities, Attn: Prospectus Department, NC1-004-03-43 200 North College Street, 3rd floor, Charlotte NC  28255-0001, telephone: (800) 294-1322 or email: [email protected]; or UBS Securities LLC, Attn: Prospectus Department, 1285 Avenue of the Americas, New York, New York 10019, telephone: (888) 827-7275 or email: [email protected].

About CC Neuberger Principal Holdings I

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.

For more information, please contact:

Douglas Newton
Chief Financial Officer
[email protected]
(212) 207-8647

Media contacts:

CC Capital
Jonathan Keehner / Julie Oakes / Kate Thompson
Joele Frank, Wilkinson Brimmer Katcher
(212) 355-4449

Neuberger Berman
Alex Samuelson
[email protected] 
(212) 476-5392

Forward-Looking Statements

This press release may include "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact included in this press release are forward-looking statements. When used in this press release, words such as "anticipate," "believe," "estimate," "expect," "intend" and similar expressions, as they relate to us or our management team, identify forward-looking statements. Such forward-looking statements are based on the beliefs of management, as well as assumptions made by, and information currently available to, the Company's management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors detailed in the Company's filings with the SEC. All subsequent written or oral forward-looking statements attributable to us or persons acting on our behalf are qualified in their entirety by this paragraph. 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 registration statement and prospectus relating to the Company's initial public offering filed with the SEC. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

SOURCE CC Neuberger Principal Holdings I