Pearl Holdings Acquisition Corp Announces Pricing for $175 Million Initial Public Offering

NEW YORK–(BUSINESS WIRE)–Pearl Holdings Acquisition Corp (the “Company”) today announced that it has priced its initial public offering of 17,500,000 units at $10.00 per unit. The units will be listed on the Nasdaq Global Market (“Nasdaq”) and trade under the symbol “PRLHU” beginning December 15, 2021. Each unit consists of one Class A common stock and one-half warrant refundable. Each whole warrant entitles its holder to purchase one Class A common share at a price of $11.50 per share. Only whole warrants can be exercised. Once the securities comprising the units begin trading separately, the Class A common stock and the redeemable warrants are expected to trade on Nasdaq under the symbols “PRLH” and “PRLHW”, respectively.

The Company is a blank check corporation formed for the purpose of effecting a merger, stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more companies. The Company intends to focus its search for a target company in global consumer-driven industries, including companies that participate in the lifestyle, technology, health and wellness sectors. Morgan Stanley is acting as sole bookrunner for the offering. The Company has granted the underwriters a 45-day option to purchase up to 2,625,000 additional units at the initial public offering price.

The offering is being made solely by means of a prospectus. When available, copies of the prospectus may be obtained from Morgan Stanley, Attn: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014, Email: [email protected]

A registration statement relating to the securities is effective as of December 14, 2021. This press release does not constitute an offer to sell or the solicitation of an offer to buy, and there will be no 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 such state or jurisdiction.

The offering is expected to close on December 17, 2021, subject to customary closing conditions.

Forward-looking statements

This press release contains statements that constitute “forward-looking statements”, including with respect to the Offer. No guarantee can be given that the offer will be carried out according to the conditions described, or not at all. Forward-looking statements are subject to numerous conditions, many of which are beyond the Company’s control, including those set forth in the Risk Factors section of the Company’s preliminary prospectus for the Company’s offering filed with the Securities and Exchange. United States Commission (the “SECOND”). Copies of these documents are available on the SEC’s website, www.sec.gov. The Company assumes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.