LONDON, UNITED KINGDOM, Dec. 16, 2020 (Globe NEWSWIRE) — ScION Tech Expansion I (“ScION” or the “Company”) announced these days the pricing of its original public giving of 50,000,000 units at $10.00 for each device. The models will be listed on the Nasdaq Cash Market (“Nasdaq”) under the image “SCOAU” and will start off trading on December 17, 2020. Each and every unit is made up of one of the Company’s Course A everyday shares and just one-third of 1 warrant, just about every complete warrant entitling the holder thereof to purchase a single of the Company’s Class A standard shares at an workout rate of $11.50 for each share. Only full warrants are exercisable. When the securities constituting the models start off individual trading, we be expecting that the Course A ordinary shares and warrants are anticipated to be stated on Nasdaq below the symbols “SCOA” and “SCOAW”, respectively.
ScION is a recently arranged blank test firm incorporated for the function of effecting a merger, share trade, asset acquisition, share acquire, reorganization or equivalent small business combination with one or more enterprises. While the Corporation may well go after an acquisition opportunity in any field or sector, the Enterprise intends to aim its look for for an preliminary company mix on technological know-how-enabled companies that provide particular technology solutions, broader technological innovation computer software and companies in the economic services sector.
The Company is sponsored by an affiliate of ION Investment Group Minimal (“ION”), a technological innovation program expense organization and an operator of world wide technological know-how firms, supplying mission-significant workflow automation application, details and analytics to financial establishments, governments and companies around the entire world.
The Corporation is led by Government Chairman Andrea Pignataro, ION’s founder, Main Government Officer Mathew Cestar, the previous Co-Head of Credit Suisse’s EMEA Financial investment Banking and Cash Markets division, and Chief Economic Officer Alex Triplett, ION’s Head of Company Development.
UBS Investment decision Financial institution and Citigroup Global Markets Inc. are acting as joint ebook-functioning supervisors of the offering. The Enterprise has granted the underwriters a 45-working day choice to obtain up to an more 7,500,000 models at the preliminary community providing selling price to go over above-allotments, if any.
The providing is becoming built only by indicates of a prospectus. Copies of the prospectus may be obtained, when available, from UBS Securities LLC, Attn: Prospectus Section, 1285 Avenue of the Americas, New York, NY 10019, or by telephone at (888) 827-7275, or by e-mail at [email protected] or Citigroup World-wide Marketplaces Inc., c/o Broadridge Monetary Methods, 1155 Extended Island Avenue, Edgewood, NY 11717, by telephone at (800) 831-9146.
A registration statement relating to these securities has been declared efficient by the U.S. Securities and Trade Fee (the “SEC”) on December 16, 2020. This press release shall not constitute an supply to sell or the solicitation of an supply to buy, nor shall there be any sale of these securities in any state or jurisdiction in which these an present, solicitation or sale would be illegal prior to registration or qualification beneath the securities regulations of any these types of condition or jurisdiction.
This push release has statements that constitute “forward-wanting statements,” such as with regard to the proposed original community presenting and the anticipated use of the internet proceeds. No assurance can be specified that the giving talked about over will be done on the conditions described, or at all, or that the internet proceeds of the supplying will be used as indicated. Ahead-looking statements are issue to a lot of ailments, numerous of which are further than the management of the Company, such as people established forth in the Hazard Aspects section of the Company’s registration assertion and preliminary prospectus for the Company’s offering filed with the SEC. Copies are offered on the SEC’s web-site, www.sec.gov. The Organization undertakes no obligation to update these statements for revisions or adjustments just after the day of this launch, besides as necessary by law.
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