Altitude Acquisition Corp. has announced the pricing of its initial public offering of 26,100,000 units at a price of $10.00 per unit. The units will be listed on the Nasdaq Capital Market and trade under the ticker symbol “ALTUU” beginning on December 9, 2020.
Each unit consists of one share of Class A common stock and one-half of one redeemable warrant, with each whole warrant exercisable to purchase one share of Class A common stock at a price of $11.50 per share. Only whole warrants will be exercisable. Once the securities comprising the units begin separate trading, the shares of Class A common stock and warrants are expected to be listed on Nasdaq under the symbols “ALTU” and “ALTUW,” respectively.
Altitude Acquisition Corp. is a blank-check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganisation or similar business combination with one or more businesses. The company intends to focus on travel, travel technology and travel-related businesses with an enterprise value of $1 billion or more with either business-to-business (B2B) or business-to-consumer (B2C) focuses, that have compelling growth opportunities with strong underlying demand drivers.
Cantor Fitzgerald & Co. is acting as the sole book-runner and Odeon Capital Group, LLC as the lead manager of the offering. The company has granted the underwriters a 45-day option to purchase up to an additional 3,915,000 units at the initial public offering price to cover over-allotments, if any.