VectoIQ Acquisition Corp. II Announces the Separate Trading of Its Class A Common Stock and Warrants Commencing on or About March 1, 2021
VectoIQ Acquisition Corp. II (Nasdaq: VTIQU) announced that holders of its initial public offering units can separately trade Class A common stock and warrants starting March 1, 2021.
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Rhea-AI Summary
VectoIQ Acquisition Corp. II (Nasdaq: VTIQU) announced that holders of its initial public offering units can separately trade Class A common stock and warrants starting March 1, 2021. The IPO, completed on January 11, 2021, involved 34,500,000 units. Previously combined, the Class A common stock and warrants will now trade under the symbols VTIQ and VTIQW, respectively, while unseparated units will continue trading as VTIQU. The company aims to pursue business combinations in industrial technology, transportation, and smart mobility sectors.
Positive
- Opportunity for investors to trade Class A common stock and warrants separately.
- Potential expansion into industrial technology and smart mobility sectors.
Negative
- None.
Details
News Market Reaction – VTIQU
The recorded move for VTIQU in the trading session of this news was +1.78%.
Data tracked by StockTitan Argus. Session date unavailable.
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NEW YORK, March 1, 2021 /PRNewswire/ -- VectoIQ Acquisition Corp. II (Nasdaq: VTIQU) (the "Company") today announced that holders of the units sold in the Company's initial public offering of 34,500,000 units completed on January 11, 2021 may elect to separately trade the shares of Class A common stock and warrants included in the units commencing on or about March 1, 2021. No fractional warrants will be issued upon separation of the units and only whole warrants will trade. Those units not separated will continue to trade on the Nasdaq Capital Market ("Nasdaq") under the ticker symbol "VTIQU," and the Class A common stock and warrants that are separated will trade on the Nasdaq under the symbols "VTIQ" and "VTIQW," respectively.
The Company was formed for the purpose of effecting a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization or similar business combination with one or more businesses. The Company's efforts to identify a prospective target business will not be limited to a particular industry or geographic region, although it intends to focus on businesses in the industrial technology, transportation and smart mobility industries.
Cowen and Company, LLC and Morgan Stanley & Co. LLC acted as the joint book-running managers of the offering.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities of the Company, 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 contains statements that constitute "forward-looking statements," including with respect to the anticipated use of the net proceeds of the Company's initial public offering. No assurance can be given that the net proceeds of the offering will be used as indicated. 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 prospectus for the Company's offering filed with the SEC. Copies of these documents 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:
Gladstone Place Partners
Lauren Odell / Danielle Belopotosky
212-230-5930
View original content:http://www.prnewswire.com/news-releases/vectoiq-acquisition-corp-ii-announces-the-separate-trading-of-its-class-a-common-stock-and-warrants-commencing-on-or-about-march-1-2021-301237010.html
SOURCE VectoIQ Acquisition Corp. II
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