Supernova Partners Acquisition Company II (NYSE:SNIIU) stock for the special purpose acquisition company (SPAC) is set to start trading on Tuesday.
Here’s everything potential investors in SNIIU stock need to know about the SPAC.
- Starting off, Supernova is the second blank-check company created by Zillow (NASDAQ:ZG,Z) co-founder Spencer Rascoff.
- The company run by the same group responsible for the creation of its predecessor, Supernova Partners Acquisition Company.
- Shares of SNIIU stock are available to investors via an initial public offering (IPO) that starts today.
- This has the company offering up a total of 30 million units of SNIIU stock for a price of $10 each.
- This will have shares of the stock trading on the New York Stock Exchange.
- The units consist of one share of Class A stock and one-fourth a warrant for a share of the stock.
- These warrants have an exercise price of $11.50 each.
- When the warrants and shares start trading separately, they will be listed under the SNII and SNII WS tickers, respectively.
- The company doesn’t allow for fractional warrants and only whole warrants will trade.
- J.P. Morgan Securities LLC and Jefferies LLC are acting as book-runners for the IPO.
- A 45-day purchase option grants them the ability to acquire an additional 4.5 million shares of the stock as its IPO price.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.