Revelstone Capital Acquisition Corp. (the “Company” or “Revelstone”) announced that the underwriters in its initial public offering partially exercised their over-allotment option and today purchased an additional 1,500,000 units at $10.00 per unit. The gross proceeds from the partial option exercise were $15 million before deducting underwriting discounts and expenses. Each unit consists of one share of Class A common stock, par value $0.0001 per share, of the Company (“common stock”) and one-half of one redeemable warrant, with each whole warrant entitling the holder thereof to purchase one share of common stock at a price of $11.50 per share. Only whole warrants are exercisable.
Revelstone Capital Acquisition Corp. Announces Closing of $15 Million Over-Allotment Option in Connection with Its Initial Public Offering
Jan 15, 2022
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