Tribe Capital Growth Corp I Announces the Separate Trading of its Class A Common Stock and Warrants

Rhea-AI Summary

Tribe Capital Growth Corp I announced on May 20, 2021, that holders of its 27.6 million initial public offering units can separately trade Class A common stock and warrants. The common stock will trade under the symbol ATVC, while warrants will trade as ATVCW. Units that are not separated will continue to trade as ATVCU on Nasdaq. The company, a SPAC, was formed for mergers or similar business combinations. The offering was managed by Cantor Fitzgerald & Co. and registered with the SEC, effective March 4, 2021.

Tribe Capital Growth Corp I (the “Company”) announced today that, commencing May 20, 2021, holders of the 27,600,000 units sold in the Company’s initial public offering may elect to separately trade the Company’s Class A common stock and warrants included in the units. Shares of Class A common stock and warrants that are separated will trade on the Nasdaq Capital Market (“Nasdaq”) under the symbols “ATVC” and “ATVCW,” respectively. No fractional warrants will be issued upon separation of the units and only whole warrants will trade. Those units not separated will continue to trade on Nasdaq under the symbol “ATVCU.” 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 Class A common stock and warrants.

Tribe Capital Growth Corp I is a blank check company, also commonly referred to as a SPAC, 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.

The units were initially offered by the Company in an underwritten offering. Cantor Fitzgerald & Co. acted as the sole book-running manager for the offering. A registration statement relating to these securities has been filed with, and declared effective by, the Securities and Exchange Commission (“SEC”) on March 4, 2021. 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.

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 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210519005868/en/

FAQ

When can holders of ATVCU units separate their shares?

Holders can separate their shares starting May 20, 2021.

What symbols will the separated shares and warrants trade under?

Class A common stock will trade under ATVC and warrants under ATVCW.

What will happen to units that are not separated?

Units that are not separated will continue to trade under the symbol ATVCU.

Who acted as the book-running manager for the offering?

Cantor Fitzgerald & Co. was the sole book-running manager for the offering.

What type of company is Tribe Capital Growth Corp I?

Tribe Capital Growth Corp I is a blank check company, also known as a SPAC.