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NEW YORK, Jan. 27, 2021 /PRNewswire/ -- European Sustainable Growth Acquisition Corp. (the "Company") announced today the sale of an additional 1,875,000 units pursuant to the over-allotment option granted to the underwriters in the Company's initial public offering. The units were sold at $10.00 per unit, generating total additional gross proceeds of $18,750,000.
The Company's units were listed on the Nasdaq Capital Market ("Nasdaq") under the ticker symbol "EUSGU" on January 22, 2021. Each unit consists of one Class A ordinary share and one-half of one warrant, each whole warrant entitling the holder thereof to purchase one Class A ordinary share at a price of $11.50 per share. Only whole warrants are exercisable and will trade. Once the securities comprising the units begin separate trading, the Class A ordinary shares and warrants are expected to be listed on Nasdaq under the symbols "EUSG" and "EUSGW," respectively. Of the proceeds received from the consummation of the initial public offering, including the over-allotment option, and simultaneous private placement of warrants, $143,750,000 (or $10.00 per share sold in the offering) was placed in trust.