NEW YORK, Nov. 13, 2020 /PRNewswire/ -- Natural Order
Acquisition Corp. (Nasdaq: NOACU, the "Company" or "Natural Order")
announced today that it closed its initial public offering of
23,000,000 units, which includes the full exercise of the
underwriters' over-allotment option. The units were sold at
$10.00 per unit, resulting in total
gross proceeds of $230,000,000.
Each unit consists of one share of common stock and one redeemable
warrant. Each warrant entitles the holder thereof to purchase one
half-share of common stock at a price of $11.50 per share. Once the securities comprising
the units begin separate trading, the shares of common stock and
redeemable warrants are expected to be listed on Nasdaq under the
symbols "NOAC" and "NOACW," respectively.
The Company is led by founders Paresh
Patel (CEO) and Sebastiano Cossia Castiglioni (Chairman).
The Company is a blank check company formed for the purpose of
effecting a business combination with one or more businesses. It is
the Company's intention to pursue prospective targets that are
focused on technologies and products related to plant-based food
and beverages, alternative protein, and other alternatives to
animal products. The proceeds of the offering will be used to fund
such business combination.
The units began trading on The Nasdaq Capital Market ("Nasdaq")
under the ticker symbol "NOACU" on November
11, 2020.
Chardan and Barclays acted as joint book running managers in the
offering.
Loeb & Loeb LLP acted as counsel to the Company and
Davis Polk & Wardwell LLP acted
as counsel to the underwriters.
A registration statement relating to these securities was
declared effective by the Securities and Exchange Commission on
November 10, 2020. The offering is
being made only by means of a prospectus, copies of which may be
obtained by contacting Chardan, 17 State Street, 21st Floor,
New York, New York 10004 or
telephone: 646-465-9001; or Barclays, Attention: Broadridge
Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: 888-603-5847,
or email: Barclaysprospectus@broadridge.com. Copies of the
registration statement can be accessed through the SEC's website at
www.sec.gov.
This press release shall not constitute an offer to sell or a
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.
Forward Looking Statements
This press release includes forward-looking statements that
involve risks and uncertainties. Forward-looking statements are
statements that are not historical facts. Such forward-looking
statements, including the successful consummation of the Company's
initial public offering, are subject to risks and uncertainties,
which could cause actual results to differ from the forward-looking
statements. The Company expressly disclaims any obligations or
undertaking to release publicly any updates or revisions to any
forward-looking statements contained herein to reflect any change
in the Company's expectations with respect thereto or any change in
events, conditions or circumstances on which any statement is
based.
Contact
Marc Volpe
CFO, Natural Order Acquisition Corp.
617-395-1644
info@natorac.com
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SOURCE Natural Order Acquisition Corp.