Adit Edtech Acquisition Corp. Announces the Separate Trading of Its Shares of Common Stock and Redeemable Warrants Commencing March 3, 2021

Rhea-AI Summary

Adit EdTech Acquisition Corp. (NYSE: ADEX.U) announced that from March 3, 2021, holders of its IPO units can separately trade shares of common stock and redeemable warrants. The units will continue to trade as ADEX.U, while common stock and warrants will trade under symbols ADEX and ADEX.WS, respectively. The company is a blank check firm aiming for business combinations in the education and technology sectors. EarlyBirdCapital, Inc. was the sole book-running manager for the offering, with registration statements effective since January 11, 2021.

Positive

• Allows separate trading of common stock and warrants, increasing liquidity for investors.
• Focuses on potential acquisitions in the growing education and technology sectors.

Negative

• None.

Adit EdTech Acquisition Corp. (NYSE: ADEX.U) (the “Company”) today announced that, commencing March 3, 2021, holders of the units sold in the Company’s initial public offering of 27,600,000 units may elect to separately trade the shares of common stock and redeemable warrants included in the units. Those units not separated will continue to trade on the New York Stock Exchange (the “NYSE”) under the symbol “ADEX.U,” and the shares of common stock and redeemable warrants that are separated will trade on the NYSE under the symbols “ADEX” and “ADEX.WS,” respectively. No fractional warrants will be issued upon separation of the units and only whole warrants will trade. 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 redeemable warrants.

The Company is a blank check company formed for the purpose of entering into a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. While the Company may pursue a business combination in any industry, the Company intends to focus its search for a business that would benefit from the founders’ and management team’s experience and ability to identify, acquire and manage a business in the education, training and education technology sectors.

EarlyBirdCapital, Inc. acted as sole book-running manager for the offering and Maxim Group LLC and U.S. Capital Advisors acted as co-managers.

The offering was made only by means of a prospectus. Copies of the prospectus may be obtained from EarlyBirdCapital, Inc., 366 Madison Avenue, 8^th Floor, New York, NY 10017, Attn: Syndicate Department, 212-661-0200.

Registration statements relating to the securities became effective on January 11, 2021 in accordance with Section 8(a) of the Securities Act of 1933, as amended. 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 offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Cautionary Note Concerning Forward-Looking Statements

This press release contains statements that constitute “forward-looking statements.” 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 Company's offering filed with the Securities and Exchange Commission (“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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210226005115/en/

FAQ

What does Adit EdTech Acquisition Corp. do?

Adit EdTech Acquisition Corp. is a blank check company forming for mergers or acquisitions, primarily in the education and technology sectors.

When can I separate my units from Adit EdTech?

Holders can separate their units and trade shares of common stock and redeemable warrants starting March 3, 2021.

What symbols will the separated shares and warrants trade under?

The common stock will trade under the symbol ADEX, and the warrants will trade under ADEX.WS.

Who managed the IPO for Adit EdTech Acquisition Corp.?

EarlyBirdCapital, Inc. acted as the sole book-running manager, with Maxim Group LLC and U.S. Capital Advisors as co-managers.

What should I do to separate my units?

Holders need their brokers to contact Continental Stock Transfer & Trust Company to separate the units.