Montes Archimedes Acquisition Corp Announces Pricing of $400,000,000 Initial Public Offering

MENLO PARK, Calif., Oct. 6, 2020 /PRNewswire/ -- Montes Archimedes Acquisition Corp (the "Company" or "Montes Archimedes"), a special purpose acquisition company formed for the purpose of entering into a combination with one or more businesses, today announced the pricing of its initial public offering of 40,000,000 units at a price of $10.00 per unit. The units will be listed on the Nasdaq Capital Market ("Nasdaq") and will begin trading tomorrow, Wednesday, October 7, 2020, under the ticker symbol "MAACU."  Each unit consists of one share of the Company's Class A common stock and one-half of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one share of the Company's Class A common stock at a price of $11.50 per share. Once the securities comprising the units begin separate trading, shares of the Class A common stock and warrants are expected to be listed on Nasdaq under the symbols "MAAC" and "MAACW," respectively.

Montes Archimedes is sponsored by Patient Square Capital LLC and led by Chairman, CEO and President Jim Momtazee and Chief Financial Officer Maria Walker.

Montes Archimedes intends to identify a prospective target company and complete an initial business combination in the health care industry. Among the sub-sectors that may be targeted are health care providers, technology-enabled services, digital and consumer health, biopharmaceuticals, the pharmaceutical value chain, medical devices and diagnostics. We believe that Patient Square Capital can have a transformative impact on a target business.

Citigroup and Jefferies are serving as book-running managers for the offering. The underwriters have a 45-day option from the date of this prospectus to purchase up to 6,000,000 additional units to cover over-allotments, if any.

The proposed offering is being made only by means of a prospectus, which forms a part of the Registration Statement. Copies of the prospectus relating to the offering may be obtained, when available, for free by visiting EDGAR on the SEC's website at www.sec.gov.

Alternatively, copies of the prospectus, when available, may be obtained from Citigroup Global Markets, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, or by telephone at (800) 831-9146, and from Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, by telephone at 1-877-821-7388 or by email at [email protected].

The Registration Statement relating to these securities has been filed with the SEC and made effective on October 6, 2020. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, 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 initial public offering is expected to close on October 9, 2020, subject to customary closing conditions.

Forward-Looking Statements

This press release contains statements that constitute "forward-looking statements," including with respect to the initial public offering and the anticipated use of the net proceeds. 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.

SOURCE Montes Archimedes Acquisition Corp.

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