GlobeNewswire Inc | Jul 22, 2021 03:47PM EDT

July 22, 2021

Miami, FL., July 22, 2021 (GLOBE NEWSWIRE) -- Clover Leaf Capital Corp. (Nasdaq: CLOEU) (Clover Leaf or the Company) today announced the closing of its initial public offering of 13,831,230 units at a price of $10.00 per unit, including 1,331,230 units sold pursuant to the partial exercise of the underwriters over-allotment option, at an offering price of $10.00 per unit. The units commenced trading on the Nasdaq Capital Market (Nasdaq) under the ticker symbol CLOEU on July 20, 2021. Each unit consisted of one share of Class A common stock and one right to receive one-eighth (1/8) of one share of Class A common stock upon the consummation of the Companys initial business combination. Once the securities comprising the units begin separate trading, the shares of Class A common stock and rights are expected to be traded on the Nasdaq under the symbols CLOE and CLOER, respectively.

Maxim Group LLC acted as sole book-running manager for the offering.

A registration statement relating to the securities was declared effective by the Securities and Exchange Commission (SEC) on July 19, 2021. The offering has been made only by means of a prospectus, copies of which may be obtained by contacting Maxim Group LLC, 300 Park Avenue, 16thFloor, New York, New York 10022. Copies of the registration statement can be accessed through the SECs website at www.sec.gov.

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 offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Clover Leaf Capital Corp.

Clover Leaf Capital Corp. is a newly organized 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 it may pursue an initial business combination target in any business, industry or geographical location, it intends to focus its search on target businesses in the cannabis industry that are compliant with all applicable laws and regulations within the jurisdictions in which they are located or operate.

Forward-Looking Statements

This press release contains statements that constitute forward-looking statements, including with respect to the anticipated use of the net proceeds of the Companys initial public offering (IPO) and the Companys search for an initial business combination. No assurance can be given 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 Companys registration statement and prospectus for the Companys offering filed with the SEC. Copies of these documents are available on the SECs 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.

Company Contact:

Clover Leaf Capital Corp. 1450 Brickell Avenue, Suite 2520 Miami, FL 33131www.cloverlcc.com info@cloverlcc.com