Springwater Special Situations Corp. Announces Pricing of $150,000,000 Initial Public Offering

NEW YORK, Aug. 25, 2021 /PRNewswire/ -- Springwater Special Situations Corp. (the "Company") announced today that it priced its initial public offering of 15,000,000 units at $10.00 per unit. The units will be listed on the Nasdaq Capital Market ("Nasdaq") and will begin trading tomorrow, Thursday, August 26, 2021, under the ticker symbol "SWSSU". Each unit consists of one share of common stock and one-half of one redeemable warrant, each whole warrant entitling the holder thereof to purchase one share of common stock at a price of $11.50 per share, subject to adjustment. Only whole warrants are exercisable and will trade. Once the securities comprising the units begin separate trading, common stock and redeemable warrants are expected to be listed on Nasdaq under the symbols "SWSS" and "SWSSW," respectively. 

Springwater Special Situations Corp. is a Delaware blank check company formed for the purpose of entering into a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization or similar business combination with one or more businesses or entities. The Company's efforts to identify a prospective target business will not be limited to a particular industry or geographic region. The Company is led by Martin Gruschka, Chief Executive Officer and Director, Ignacio Casanova, Chief Financial Officer and Director, and Angel Pendas, Secretary and Director. 

EarlyBirdCapital, Inc. is acting as the sole book-running manager for the offering and JonesTrading Institutional Services LLC is acting as co-manager for the offering. The Company has granted the underwriters a 45-day option to purchase up to an additional 2,250,000 units at the initial public offering price to cover over-allotments, if any.

The offering is being made only by means of a prospectus. Copies of the prospectus may be obtained, when available, from EarlyBirdCapital, Inc., 366 Madison Avenue, 8th Floor, New York, NY 10017, Attn: Syndicate Department, 212-661-0200.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission ("SEC") and became effective on August 25, 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 proposed initial public offering and the anticipated use of 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. 

Contact:
Martin Gruschka, CEO
212-818-8800

SOURCE Springwater Special Situations Corp.

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

GET STARTED