Monterey Bio Acquisition Corporation Announces Pricing of $100 Million Initial Public Offering

NEW YORK, Sept. 30, 2021 /PRNewswire/ -- Monterey Bio Acquisition Corporation (the "Company") announced today that it priced its initial public offering of 10,000,000 units at $10.00 per unit. The units are expected to trade on The Nasdaq Stock Market LLC ("Nasdaq") under the ticker symbol "MTRYU" beginning October 1, 2021. Each unit consists of one share of common stock and one redeemable warrant, with each warrant entitling the holder thereof to purchase one share of common stock at a price of $11.50 per share. Once the securities comprising the units begin separate trading, the shares of common stock and redeemable warrants, are expected to be listed on Nasdaq under the symbols "MTRY" and "MTRYW," respectively.

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

Chardan acted as sole book running manager in the offering. The underwriter has been granted a 45-day option to purchase up to an additional 1,500,000 units offered by the Company to cover over-allotments, if any, at the initial public offering price.

A registration statement relating to these securities was declared effective by the Securities and Exchange

Commission ("SEC") on September 30, 2021. The offering is being made only by means of a prospectus, copies of which may be obtained by contacting Chardan, 17 State Street, 21st floor, New York, New York 10004 or by calling (646) 465-9001. Copies of the registration statement can be accessed through the SEC's website at www.sec.gov.

This press release shall not constitute an offer to sell or a 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.

About Monterey Bio Acquisition Corporation

Monterey Bio Acquisition Corporation is a blank check company, also commonly referred to as a special purpose acquisition company, or SPAC, formed for the purpose of entering into a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization or other similar business combination with one or more businesses or entities. While the Company may pursue an initial business combination in any region or sector, it intends to focus its efforts on identifying a biotech company that has demonstrated success and is primed to thrive in the rapidly evolving biotech industry for its initial business combination. The Company's goal to evaluate business targets that are developing or enabling development of pre-commercial therapeutic candidates across a broad array of therapeutic areas, with an initial focus on oncology and immunology.

Forward Looking Statements

This press release contains statements that constitute "forward-looking statements," including with respect to its proposed initial public offering, the anticipated use of the net proceeds thereof and its search for an initial 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 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 registration statement and preliminary prospectus for the offering filed with 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.

Contact
Monterey Bio Acquisition Corporation
(917) 267-0216
[email protected]

SOURCE Monterey Bio Acquisition Corporation

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