SportsTek Acquisition Corp. (SPTK) Prices 15M Unit Upsized IPO at $10/Unit
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SportsTek Acquisition Corp. (NASDAQ: SPTK) today announced the pricing of its initial public offering of 15,000,000 units at a price of $10.00 per unit. The units are expected to be listed for trading on the Nasdaq Capital Market under the ticker symbol “SPTKU” beginning February 17, 2021. Each unit consists of one share of the Company’s Class A common stock and one-half of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one share of Class A common stock at a price of $11.50 per share. Once the securities comprising the units begin separate trading, the Company expects that its Class A common stock and warrants will be listed on the Nasdaq Capital Market under the symbols “SPTK” and “SPTKW” respectively.
The Company was formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. Although the Company’s efforts to identify a prospective business combination opportunity will not be limited to a particular industry, it intends to focus on a target within the sports and related sectors including sports franchises, media, data analytics, and technology and services businesses serving those end markets, among others.
Stifel is acting as sole book-running manager. The Company has granted Stifel a 45-day option to purchase up to 2,250,000 additional units at the initial public offering price to cover over-allotments, if any.
A registration statement relating to the securities was filed with the Securities and Exchange Commission (the “SEC”) and became effective on February 16, 2021.
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Create E-mail Alert Related CategoriesCorporate News, Equity Offerings, IPOs, SPAC
Related EntitiesStifel, Definitive Agreement, IPO
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