NEW YORK, March 9, 2021 /PRNewswire/ -- InterPrivate
II Acquisition Corp. (NYSE: IPVA) (the "Company") announced today
that it closed its upsized initial public offering of 25,875,000
units, including 3,375,000 units issued pursuant to the exercise by
the underwriters of their over-allotment option in full, at a price
of $10.00 per unit. The units are
listed on the New York Stock Exchange (the "NYSE") and commenced
trading under the ticker symbol "IPVA.U" on March 5, 2021. Each unit consists of one share of
Class A common stock and one-fifth of one redeemable
warrant, with each whole warrant exercisable to purchase one share
of Class A common stock at a price of $11.50 per share. After the securities comprising
the units begin separate trading, the shares of Class A common
stock and warrants are expected to be listed on the NYSE under the
symbols "IPVA" and "IPVA WS," respectively.
InterPrivate II Acquisition Corp. is a blank check company whose
business purpose is to effect a merger, capital stock exchange,
asset acquisition, stock purchase, reorganization or similar
business combination with one or more businesses. While the Company
may pursue initial business combination targets in any industry,
the Company may pursue sectors including auto-tech and mobility,
business services, consumer, retail, e-commerce or industrial
technology, or businesses that possesses their own differentiated
technology, with a focus on target companies with an enterprise
value of $1 billion or more.
Morgan Stanley and EarlyBirdCapital, Inc. acted as joint
book-running managers of the offering.
A registration statement relating to these securities was
declared effective by the U.S. Securities and Exchange Commission
(the "SEC") on March 4, 2021. 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 offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
The offering was made only by means of a prospectus. Copies of
the prospectus relating to this offering may be obtained from
Morgan Stanley, Attention: Prospectus Department, 180 Varick
Street, 2nd Floor, New York, NY
10014, or by email at prospectus@morganstanley.com; or from
EarlyBirdCapital, Inc., 366 Madison Avenue, 8th Floor, New York, NY 10017, Attn: Syndicate
Department, 212-661-0200.
Cautionary Note Concerning Forward-Looking
Statements
This press release contains statements that constitute
"forward-looking statements," including with respect to the
Company's initial public offering and search for an initial
business combination. No assurance can be given that the 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 for
the initial public 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.
Press Contact
Charlotte Luer, Marketing
cluer@interprivate.com
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SOURCE InterPrivate II Acquisition Corp.