IPOs
By The Online Investor Staff, updated Sun., May. 20, 10:56 PM
| This Slide: #2 of 15 |
Slide #2. VectoIQ Acquisition Corp. — Initial Public Offering
Company:
VectoIQ Acquisition Corp.
Proposed Symbol:
VTIQ
Shares Offered:
20,000,000
Price Per Share:
$10.00
Over-Allotment:
3,000,000
Description:
VectoIQ Acquisition Corp. (the "Company") today announced the pricing of its initial public offering of 20,000,000 units at a price of $10.00 per unit. The units are expected to be listed on the Nasdaq Capital Market ("Nasdaq") and trade under the ticker symbol "VTIQU" beginning May 16, 2018. Each unit consists of one share of the Company's common stock and one redeemable warrant. Each warrant entitles the holder thereof 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 Company expects that its common stock and warrants will be listed on 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 its search for a target business in the industrial technology, transportation and smart mobility industries. Cowen and Chardan are acting as joint book running managers. The Company has granted the underwriters a 45-day option to purchase up to 3,000,000 additional units at the initial public offering price to cover over-allotments, if any.
