Novus Capital Corporation Announces Closing of $100 Million Initial Public Offering
19 Mayo 2020 - 5:07PM
Business Wire
Novus Capital Corporation (NASDAQ: NOVSU) (the “Company”)
announced today that it closed its initial public offering of
10,000,000 units at $10.00 per unit. The offering resulted in gross
proceeds to the Company of $100 million.
The Units began trading on the Nasdaq Capital Market under the
symbol “NOVSU” on May 15, 2020. Each unit consists of one share of
common stock and one redeemable warrant, with each warrant
entitling the holder to purchase one share of common stock at a
price of $11.50 per share. Once the securities comprising the units
begin separate trading, the common stock and warrants are expected
to be traded on the Nasdaq Capital Market under the symbols “NOVS
and “NOVSW”, respectively.
EarlyBirdCapital, Inc. acted as the sole book-running manager of
the offering. I-Bankers Securities, Inc. acted as co-manager.
Of the proceeds received from the consummation of the initial
public offering and a simultaneous private placement of warrants,
$100 million (or $10.00 per unit sold in the public offering) was
placed in trust. An audited balance sheet of the Company as of the
closing date reflecting receipt of the proceeds upon consummation
of the initial public offering and the private placement will be
included as an exhibit to a Current Report on Form 8-K to be filed
by the Company with the Securities and Exchange Commission
(“SEC”).
The offering is being made only by means of a prospectus, copies
of which may be obtained by contacting EarlyBirdCapital, Inc., 366
Madison Avenue, 8th Floor, New York, NY 10017, Attn: Syndicate
Department, 212-661-0200. Copies of the registration statement can
be accessed through the SEC’s website at www.sec.gov. A
registration statement relating to these securities has been
declared effective by the Securities and Exchange Commission on May
14, 2020.
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.
About Novus Capital Corporation Novus Capital Corporation
is a blank check company organized for the purpose of effecting a
merger, share exchange, asset acquisition, stock purchase,
recapitalization, reorganization, or other similar business
combination with one or more businesses or entities. The Company is
led by Robert J. Laikin and Larry Paulson, who have significant
hands-on experience helping high-tech companies optimize their
existing and new growth initiatives by exploiting insights from
rich data assets and intellectual property that already exist
within most high-tech companies. The Company intends to focus its
efforts on evaluating business combination targets opportunities in
the smart technology innovations market. Specifically, the Company
intends to target companies that are at the forefront of high
technology and are enabling the future evolution of 5G
communication, virtual reality, artificial intelligence, cloud
computing, machine learning, hardware and software distribution and
value-added customized logistics services. The Company is an
emerging growth company as defined in the Jumpstart Our Business
Startups Act of 2012.
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 with respect to
the initial public offering and the anticipated use of the proceeds
thereof, are subject to risks and uncertainties, which could cause
actual results to differ from the forward-looking statements,
including those set forth in the risk factors section of the
prospectus used in connection with the Company’s initial public
offering. No assurance can be given that the offering discussed
above will be completed on the terms described, or at all, or that
the net proceeds of the offering will be used as indicated. 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, except
as required by law.
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Robert J. Laikin robertjlaikin@gmail.com 317-590-6959
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