SPAC Capitalworks completes $230M IPO, $11.7M private placement, deposits $234.6M in trust

Piermont Valley Acquisition Corp

Completed IPO of 23,000,000 units at $10.00 per unit for gross proceeds of $230,000,000.
Completed private placement of 11,700,000 warrants at $1.00 each for $11,700,000.
Net proceeds of $234,600,000 deposited into trust account for benefit of public stockholders.
Underwriter exercised over-allotment in full for additional 3,000,000 units and 1,200,000 private warrants.
Audited balance sheet as of December 3, 2021 filed as Exhibit 99.1.

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