Exhibit 99.1
Periphas Capital Partnering Corporation Announces Redemption of Class A Common
Stock Expected to Occur On Or About December 21, 2022
NEW YORK, NEW YORK, December 14, 2022 — On November 29, 2022, Periphas Capital Partnering Corporation (the “Company”) (NYSE: PCPC) announced that its board of directors (the “Board”) had determined to redeem all of its outstanding shares of Class A common stock, par value $0.0001 per share (the “Public Shares”). The Company expects the redemption of its Public Shares to occur on or about December 21, 2022.
As previously announced, the Company anticipates that the last day of trading in the Company’s Public Shares will be December 14, 2022 and that, as of the open of business on December 15, 2022, the Public Shares will be suspended from trading, will be deemed cancelled and will represent only the right to receive the per-share redemption price for the Public Shares to be announced at a later date (the “Redemption Amount”).
The Redemption Amount will be payable to the holders of the Public Shares upon presentation of their respective share or unit certificates or other delivery of their shares or units to the Company’s transfer agent, Continental Stock Transfer & Trust Company. Beneficial owners of Public Shares held in “street name,” however, will not need to take any action in order to receive the Redemption Amount.
There will be no redemption rights or liquidating distributions with respect to the Company’s warrants, which will expire worthless. The Company’s initial stockholders have waived their redemption rights with respect to the outstanding shares of Class B common stock, par value $0.0001 per share, and Class F common stock, par value $0.0001 per share, issued prior to the Company’s initial public offering.
The Company expects that The New York Stock Exchange will file a Form 25 with the U.S. Securities and Exchange Commission to delist the Company’s securities.
