Software Acquisition Group Inc. II Announces Closing of $150,000,000 Initial Public Offering
17 Setembro 2020 - 5:00PM
Software Acquisition Group Inc. II (NASDAQ: SAIIU) (the “Company”)
announced today that it closed its initial public offering of
15,000,000 units. The offering was priced at $10.00 per unit,
resulting in gross proceeds of $150,000,000. The Company granted
the underwriters in the initial public offering, a 45-day option to
purchase up to 2,250,000 additional units solely to cover
over-allotments, if any.
The Company’s units are listed on the Nasdaq
Capital Market (“Nasdaq”) and commenced trading under the ticker
symbol “SAIIU” on September 15, 2020. Each unit consists of one
share of the Company’s Class A common stock and one-half of one
redeemable warrant, each whole warrant entitling the holder thereof
to purchase one share of Class A common stock at a price of $11.50
per share. Only whole warrants are exercisable. No fractional
warrants will be issued upon separation of the units and only whole
warrants will trade. Once the securities comprising the units begin
separate trading, shares of the Class A common stock and warrants
are expected to be listed on Nasdaq under the symbols “SAII” and
“SAIIW,” respectively.
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. While the Company may
pursue an initial business combination target in any business or
industry, it intends to focus its search on software companies,
especially those targeting enterprise vertical sectors owned by
private equity and venture capital firms as well as corporate
carve-outs. The Company is led by Chairman and Chief Executive
Officer, Jonathan Huberman, and Vice President of Acquisitions,
Mike Nikzad. In addition to Messrs. Huberman and Nikzad, the
Board of Directors includes Andrew Nikou, Stephanie Davis, Peter
Diamandis, Steven Guggenheimer and Matt Olton.
B. Riley Securities, Inc. acted as sole
book-running manager of the offering.
Of the proceeds received from the consummation of the initial
public offering and a simultaneous private placement of warrants,
$150,000,000 (or $10.00 per unit sold in the public offering) was
placed in the Company’s trust account. An audited balance sheet of
the Company as of September 17, 2020 reflecting receipt of the
proceeds upon consummation of the initial public offering and the
private placement will be included as an exhibit to a Current
Report on Form 8-K to be filed by the Company with the Securities
and Exchange Commission (the “SEC”).
The offering was made only by means of a
prospectus. Copies of the prospectus relating to the offering may
be obtained from B. Riley Securities, Inc. at 1300 17th Street N.,
Suite 1400, Attn: Syndicate Prospectus Department, Arlington,
Virginia 22209, by telephone at (800) 846-5050 or by email at
prospectuses@brileyfin.com.
A registration statement relating to these
securities was declared effective by the SEC on September 14,
2020. This press release shall not constitute an offer to
sell or the solicitation of an offer to buy, nor shall there be any
sale of these securities in any state or jurisdiction in which such
an offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
FORWARD-LOOKING STATEMENTS
This press release contains statements that
constitute “forward-looking statements,” including with respect to
the initial public offering and the anticipated use of the net
proceeds. No assurance can be given that the net proceeds of the
offering will be used as indicated. Forward-looking statements are
subject to numerous conditions, many of which are beyond the
control of the Company, including those set forth in the Risk
Factors section of the Company’s registration statement and
prospectus for the offering filed with the SEC. Copies are
available on the SEC’s website, www.sec.gov. The Company
undertakes no obligation to update these statements for revisions
or changes after the date of this release, except as required by
law.
Contact
Jonathan
Huberman
Chief Executive Officer Software Acquisition Group Inc. II
jon@softwareaqn.com | 310.991.4982
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