Northern Genesis Acquisition Corp. III has provided holders of the units sold in the company’s initial public offering the option to elect to separately trade shares of the company’s common stock and warrants included in the units.
No fractional warrants will be issued upon separation of the units and only whole warrants will trade. The shares of common stock and warrants that are separated will trade on the New York Stock Exchange under the symbols and “NGC.W,” respectively. Those units not separated will continue to trade on the NYSE under the symbol “NGC.U.” 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 common stock and warrants.
The company is a blank check company 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 may pursue an acquisition opportunity in any business or industry, it intends to focus on opportunities whose business model demonstrates clear commitments to sustainability and strong alignment with environmental, social and governance principles.
Morgan Stanley & Co. LLC, Wells Fargo Securities LLC and TD Securities (USA) LLC acted as the joint book running managers for the offering.