Northern Genesis Acquisition Corp. Announces Closing of $300,000,000 Initial Public Offering
20 Agosto 2020 - 3:00PM
Northern Genesis Acquisition Corp. (the “Company”) announced today
that it closed its initial public offering of 30,000,000 units at
$10.00 per unit. The offering resulted in gross proceeds to the
Company of $300 million.
The Company’s units are listed on the New York
Stock Exchange (“NYSE”) and commenced trading on August 18, 2020
under the ticker symbol “NGA.U”. Each unit consists of one share of
the Company’s common stock and one-half of one redeemable warrant,
each whole warrant entitling the holder thereof to purchase one
share of common stock at a price of $11.50 per share. Only whole
warrants are exercisable. Once the securities comprising the
units begin separate trading, the common stock and warrants are
expected to be listed on the NYSE under the symbols “NGA” and “NGA
WS,” respectively.
The Company is a blank check company formed for
the purpose of effecting a merger, capital stock exchange, asset
acquisition, stock purchase, reorganization or similar business
combination with one or more businesses. Although the Company may
pursue an acquisition opportunity in any business or industry, it
intends to focus on opportunities whose business model demonstrates
clear commitments to sustainability and strong alignment with
environmental, social and governance principles.
Raymond James & Associates, Inc. and
EarlyBirdCapital, Inc. acted as the joint book running managers for
the offering. The Company has granted the underwriters a 45-day
option to purchase up to an additional 4,500,000 units at the
initial public offering price to cover over-allotments, if any.
The offering is being made only by means of a
prospectus. Copies of the prospectus may be obtained, when
available, from: Raymond James & Associates, Inc., 880 Carillon
Parkway, St. Petersburg, Florida 33716, Attention: Equity
Syndicate, 1-800-248-8863, prospectus@raymondjames.com; or from
EarlyBirdCapital, Inc., 366 Madison Avenue, 8th Floor, New York, NY
10017, Attn: Syndicate Department, 212-661-0200.
A registration statement relating to these
securities has been filed with, and declared effective by, the
Securities and Exchange Commission (“SEC”) on August 17,
2020. This press release shall not constitute an offer to
sell or the solicitation of an offer to buy, nor shall there be any
sale of these securities in any state or jurisdiction in which such
an 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 contains statements that
constitute “forward-looking statements,” including with respect to
the initial public offering. Forward-looking statements are subject
to numerous conditions, many of which are beyond the control of the
Company, including those set forth in the Risk Factors section of
the Company’s registration statement and final prospectus for the
offering filed with the SEC. Copies are available on the SEC’s
website, www.sec.gov. The Company undertakes no obligation to
update these statements for revisions or changes after the date of
this release, except as required by law.
Contact
Admin@NorthernGenesis.comAttn: Ken Manget(416) 728-1195
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