Press Release: Chavant Capital Acquisition Corp. Announces Closing of $80 Million Initial Public Offering

Chavant Capital Acquisition Corp. Announces Closing of $80 Million Initial Public Offering

NEW YORK, July 22, 2021 (GLOBE NEWSWIRE) -- Chavant Capital Acquisition Corp. (the "Company") today announced that it has closed its initial public offering of 8,000,000 units at a price of $10.00 per unit. The units are listed on The NASDAQ Capital Market ("NASDAQ") and began trading under the ticker symbol "CLAYU" on July 20, 2021. Each unit consists of one ordinary share and three-quarters of one redeemable warrant, with each whole warrant exercisable to purchase one ordinary share of the Company at a price of $11.50 per share. After the securities comprising the units begin separate trading, the ordinary shares and warrants are expected to be listed on NASDAQ under the symbols "CLAY" and "CLAYW," respectively.

Chavant Capital Acquisition Corp. is a blank check company whose business purpose is to effect a merger, capital stock exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses. While the Company may pursue an initial business combination with a company in any sector or geography, the Company intends to focus its search on companies in the advanced manufacturing and advanced materials technology sectors.

Roth Capital Partners and Craig-Hallum Capital Group acted as joint book-running managers for the offering. The Company has granted the underwriters a 45-day option to purchase up to an additional 1,200,000 units at the initial public offering price to cover over-allotments, if any.

A registration statement relating to these securities was declared effective by the U.S. Securities and Exchange Commission (the "SEC") on July 19, 2021. 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.

The offering is being made only by means of a prospectus. Copies of the prospectus relating to the offering may be obtained from Roth Capital Partners, 888 San Clemente, Newport Beach, CA 92660, Attn: Prospectus Department, telephone: 800-678-9147; or Craig-Hallum Capital Group LLC, 222 South Ninth Street, Suite 350, Minneapolis, MN 55402, Attn: Equity Capital Markets, telephone: 612-334-6300 or by email at prospectus@chlm.com; or by accessing the SEC's website, www.sec.gov.

Forward Looking Statements

This press release contains statements that constitute "forward-looking statements," including with respect to the initial public offering and search for an initial business combination. No assurance can be given that the 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 Company's registration statement for the initial public offering filed with the SEC, which is available on the SEC's 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.

Contact:

info@chavantcapital.com

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July 22, 2021 16:05 ET (20:05 GMT)

*DJ Chavant Cap Acquisition Corp. Announces Closing of $80M Initial Public Offering

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July 22, 2021 16:06 ET (20:06 GMT)

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