Golden Arrow Merger Corp. have closed their underwriters option in connection with its previously announced initial public offering of units, having exercised their over-allotment option in full, resulting in the issuance of an additional 3,750,000 units at a public offering price of $10.00 per unit. After giving effect to the exercise and close of the option, an aggregate of 28,750,000 units have been issued in the initial public offering and an aggregate of $287,500,000 has been deposited in the company’s trust account.
The company also announced that on May 7, holders of the units sold in the company’s initial public offering may elect to separately trade shares of the company’s Class A common stock and redeemable warrants included in the units. No fractional warrants will be issued upon separation of the units and only whole warrants will trade. Those units not separated will continue to trade on the Nasdaq Capital Market under the ticker symbol “GAMCU,” and the Class A common stock and warrants that are separated will trade on Nasdaq under the symbols “GAMC” and “GAMCW,” respectively. Holders of units will need to have their brokers contact Continental Stock Transfer & Trust Company, the Company’s transfer agent, in order to separate the units into shares of Class A common stock and redeemable warrants.
The units were initially offered by the Company in an underwritten offering. BTIG LLC acted as sole book-running manager and I-Bankers Securities Inc. acted as co-manager in the offering.