Pontem Corporation, a special purpose acquisition company formed for the purpose of entering into a combination with one or more businesses and led by Chairman and Chief Executive Officer Hubertus Mühlhäuser and Lead Director Burak Alici, today announced that it closed its upsized initial public offering of 60,000,000 units at $10.00 per unit and the sale of an additional 9,000,000 units at $10.00 per unit pursuant to the underwriters' full exercise of their over-allotment option. Total gross proceeds from the offering were $690,000,000, before deducting underwriting discounts and commissions and other offering expenses. Each unit consists of one Class A ordinary share of the Company and one-third of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one Class A ordinary share of the Company at a price of $11.50 per share. Once the securities comprising the units begin separate trading, the Class A ordinary shares and warrants are expected to be listed on the New York Stock Exchange under the symbols "PNTM" and "PNTM WS," respectively.

Credit Suisse Securities (USA) LLC and Guggenheim Securities, LLC acted as the joint book-running managers for this offering.