Gaming & Hospitality Acquisition Corp. Announces Pricing of $175,000,000 Upsized Initial Public Offering

LAS VEGAS, Feb. 2, 2021 /PRNewswire/ -- Gaming & Hospitality Acquisition Corp. (the "Company") announced today that it priced its initial public offering of 17,500,000 units at $10.00 per unit.

The units have been approved for listing on the Nasdaq Capital Market ("Nasdaq") under the symbol "GHACU" and are expected to begin trading on Nasdaq on February 3, 2021. Each unit consists of one share of the Company's Class A common stock and one-third of one redeemable warrant, with each whole warrant entitling the holder thereof to purchase one share of the Company's Class A common stock at a price of $11.50 per share, subject to adjustment. Only whole warrants are exercisable.  Once the securities constituting the units begin separate trading, the Class A common stock and the warrants are expected to be listed on Nasdaq under the symbols "GHAC" and "GHACW," respectively.

The offering is expected to close on February 5, 2021, subject to customary closing conditions.

The Company is a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses.  While the Company may pursue an acquisition opportunity in any industry or sector, the Company intends to focus on acquisition opportunities in the gaming and hospitality sectors.

Deutsche Bank Securities Inc. ("Deutsche Bank") is acting as the sole book-running manager and underwriter of the offering. The Company has granted Deutsche Bank a 45-day option to purchase up to an additional 2,500,000 units to cover over-allotments, if any.

The offering is being made only by means of a prospectus. Copies of the preliminary prospectus relating to the offering and the final prospectus, when available, may be obtained from Deutsche Bank at Deutsche Bank Securities Inc., Attn: Prospectus Department, 60 Wall Street, New York, New York 10005, telephone: 800-503-4611 or email: [email protected].

A registration statement relating to the securities became effective on February 2, 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 an 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 initial public offering and the Company's plans with respect to the target industry for a potential business combination. No assurance can be given that the offering discussed above will be completed on the terms described, or at all, or that the Company will ultimately complete a business combination transaction. 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 preliminary prospectus for the offering filed with the Securities and Exchange Commission ("SEC"). Copies of these documents 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.

Contact

Jonathan Keehner / Kate Thompson / Julia Sottosanti
Joele Frank, Wilkinson Brimmer Katcher
212.355.4449

SOURCE Gaming & Hospitality Acquisition Corp.

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