Benzinga | Feb 18, 2021 05:17PM EST

Simon Property Group Acquisition Holdings Prices IPO Of $300M IPO At $10/Unit

Simon Property Group Acquisition Holdings, Inc. Announces Pricing of $300,000,000 Initial Public Offering

Simon Property Group Acquisition Holdings, Inc. (the "Company") today announced the pricing of its initial public offering of 30,000,000 units at $10.00 per unit. The units will be listed on the New York Stock Exchange ("NYSE") under the symbol "SPGS.U" commencing on February 19, 2021. Each unit consists of one share of Class A common stock of the Company and one-fifth of one redeemable warrant, each whole warrant entitling the holder thereof to purchase one share of Class A common stock at an exercise price of $11.50 per share. Once the securities constituting the units begin separate trading, the Company expects the Class A common stock and warrants will be listed on the NYSE under the symbols "SPGS" and "SPGS WS," respectively.

The Company is sponsored by SPG Sponsor, LLC, an indirect wholly owned subsidiary of Simon Property Group, Inc. (NYSE:SPG), a global leader in the ownership of premier shopping, dining, entertainment and mixed-use destinations. The Company was 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 or companies. It may pursue a business combination in any industry; however, it is targeting innovative businesses that operate in the "Live, Work, Play, Stay, Shop" ecosystem.

Goldman Sachs & Co. LLC is the underwriter for the offering. The Company has granted the underwriter a 45-day option to purchase up to 4,500,000 additional units at the initial public offering price to cover over-allotments, if any.

This offering will only be made by means of a prospectus. Copies of the preliminary prospectus relating to the offering and final prospectus, when available, may be obtained from Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, New York 10282; telephone: 1- 866-471-2526; or by email: prospectus-ny@ny.email.gs.com.

A registration statement relating to these securities has been declared effective by the U.S. Securities and Exchange Commission (the "SEC"). 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.