Aurora Acquisition Corp. (AURC) Prices 22M Unit IPO at $10/Unit

March 4, 2021 6:08 AM EST

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Aurora Acquisition Corp. (NASDAQ: AURC) announced today that it priced its initial public offering of 22,000,000 units at $10.00 per unit. The units are expected to be listed on the Nasdaq Capital Market ("Nasdaq") and trade under the ticker symbol "AURCU" beginning March 3, 2021. Each unit consists of one Class A ordinary share and one-fourth of one redeemable warrant. Each whole warrant enables the holder thereof to purchase one Class A ordinary share at $11.50 per share. Once the securities comprising the units begin separate trading, the Class A ordinary shares and warrants are expected to be listed on the Nasdaq under the symbols "AURC" and "AURCW," respectively.

Additionally, the Company consummated a private placement with the Company’s sponsor, Novator Capital Sponsor Ltd. (“Novator Capital”), and certain executive officers and directors of 4,266,667 private placement warrants, each exercisable to purchase one Class A ordinary share at $11.50 per share, subject to adjustment, at a price of $1.50 per warrant, generating gross proceeds of $6,400,000. The Company’s sponsor, Novator Capital, and certain executive officers and directors of the Company also purchased 3,500,000 units in a private placement concurrently with the offering, at a price of $10.00 per unit, for an aggregate purchase price of $35,000,000.

The Company intends to focus its search for a target with operations or prospects in the Europe, Middle East and Africa Technology and Media industry, including data analytics, enterprise software, security software, e-commerce and online marketplaces, and/or financial services technology.

The offering is expected to close on March 8, 2021, subject to customary closing conditions.

Barclays Capital Inc. is acting as sole book-running manager in the offering.

A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on March 3, 2021.

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