Model Performance Acquisition Corp. Announces Pricing of $50 Million Initial Public Offering

Model Performance Acquisition Corp. Announces Pricing of $50 Million Initial Public Offering




Model Performance Acquisition Corp. Announces Pricing of $50 Million Initial Public Offering

HONG KONG, April 07, 2021 (GLOBE NEWSWIRE) — Model Performance Acquisition Corp. (NASDAQ: MPACU) (“Model Performance Acquisition Corp.” or the “Company”) announced the pricing of its initial public offering of 5,000,000 units at a price of $10.00 per unit. The units are expected to be listed on The NASDAQ Capital Market (“NASDAQ”) and trade under the ticker symbol “MPACU” beginning April 8, 2021. Each unit consists of one Class A ordinary share, one half of one redeemable warrant, and one right to receive one-tenth of one Class A ordinary share upon the consummation of the Company’s initial business combination. Each whole warrant entitles the holder thereof to purchase one Class A ordinary share at a price of $11.50 per share. Once the securities comprising the units begin separate trading, the Class A ordinary shares, warrants and rights are expected to be traded on the NASDAQ under the symbols “MPAC,” “MPACW,” and “MPACR,” respectively. No fractional warrants will be issued upon separation of the units and only whole warrants will trade.

Maxim Group LLC is acting as sole book running manager in the offering.

The Company has granted the underwriters a 45-day option to purchase up to an additional 750,000 units at the initial public offering price to cover over-allotments, if any. The offering is expected to close on April 12, 2021, subject to customary closing conditions.

A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on April 7, 2021. The offering is being made only by means of a prospectus, copies of which may be obtained by contacting Maxim Group LLC, 405 Lexington Ave, New York, NY 10174. 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 Model Performance Acquisition Corp.

Model Performance Acquisition Corp. is a British Virgin Islands company incorporated as a blank check company for the purpose of entering into a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization or similar business combination with one or more businesses or entities. Model Performance’s efforts to identify a prospective target business will not be limited to a particular industry or geographic region, although the Company intends to focus on opportunities in Asia.

Forward Looking Statements

This press release includes forward-looking statements that involve risks and uncertainties. Forward looking statements are statements that are not historical facts. Such forward-looking statements, including the successful consummation of the Company’s initial public offering, are subject to risks and uncertainties, which could cause actual results to differ from the forward looking statements. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.

Serena Shie

Model Performance Acquisition Corp.

info@firsteuro.co