Novus Capital II closed its IPO of 28.75 million units at $10 per unit, including 3.75 million units sold pursuant to the underwriter’s exercise of its overallotment option in full.
Units trade on the NYSE under NXU.U. Each consists of one share of Class A common stock and one-third of one redeemable warrant, with each whole warrant entitling the holder to purchase one share of Class A common stock at a price of $11.50. Once the securities comprising the units begin separate trading, the stock and warrants are expected to be traded under NXU and NXU WS, respectively.
The SPAC said it would target “smart technologies, 5G communication, virtual reality, artificial intelligence, spatial computing, cloud analytics, machine learning, hardware and software distribution, value added customized logistics services, sustainable smart city systems and sustainable agricultural technology, or AgTech.”
Novus is led by Robert Laikin and Larry Paulson, whose previous SPAC closed a $532 million business combination with AppHarvest last week. Read more.
