Virgin Group Acquisition II led by Richard Branson priced its IPO of 35 million units at $10 each.
Units begin trading on the NYSE today under VGII.U. Each consists of one Class A ordinary share and one-fifth of one redeemable warrant. Each whole warrant is exercisable for a share at $11.50. Once the securities comprising the units begin separate trading, shares and redeemable warrants are expected to list under VGII and VGII WS, respectively.
The SPAC intends to focus on businesses that operate in one of the Virgin Group’s core sectors: travel & leisure, financial services, health & wellness, technology & internet-enabled, music & entertainment, media & mobile and renewable energy/resource efficiency. Read more.
