Alchemy Investments Acquisition Corp 1 Announces Closing of $115 Million Initial Public Offering and Full Exercise of Over-Allotment Option

NEW YORK, May 10, 2023 /PRNewswire/ -- Alchemy Investments Acquisition Corp 1 (NASDAQ: ALCY) (the "Company"), a special purpose acquisition company formed for the purpose of entering into a business combination with one or more businesses, today announced the closing of its initial public offering of 10,000,000 units at a price of $10.00 per share and the sale of an additional 1,500,000 units at $10.00 per share pursuant to the underwriters' full exercise of their over-allotment option. Total gross proceeds from the offering were $115 million before deducting underwriting discounts and commissions and other offering expenses payable by the Company. The Company's management team is led by Steven M. Wasserman, as Non-Executive Chairman, Mattia Tomba, as Co-Chief Executive Officer, Vittorio Savoia, as Co-Chief Executive Officer, and Harshana Sidath Jayaweera, as Chief Financial Officer. The Company's units began trading on the Nasdaq Global Market under the ticker symbol "ALCYU" on May 5, 2023.

Cantor Fitzgerald & Co. acted as sole book-running manager for this offering. The offering was made only by means of a prospectus. Copies of the final prospectus related to the offering may be obtained from: Cantor Fitzgerald & Co., Attn: Capital Markets Department, 499 Park Avenue, 5th Floor, New York, New York 10022, email: prospectus@cantor.com.

A registration statement relating to the securities became effective on May 4, 2023 in accordance with Section 8(a) of the Securities Act of 1933, as amended. 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.

Cautionary Note Concerning Forward-Looking Statements

This press release contains statements that constitute 'forward-looking statements', including with respect to the anticipated use of the net proceeds. No assurance can be given that the net 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 and prospectus for the Company's offering filed with the Securities and Exchange Commission ("SEC"). Copies are 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.