Blockchain Moon Acquisition Corp. Announces the Separate Trading of its Common Stock, Rights and Warrants, Commencing November 3, 2021
Blockchain Moon Acquisition Corp. (Nasdaq: BMAQU) announced that starting November 3, 2021, holders of the units sold in its IPO can separately trade the shares of common stock, rights, and warrants. The securities will trade under the symbols BMAQ, BMAQR, and BMAQW. Each unit comprises one share of common stock, a redeemable warrant, and a right to receive one-tenth of a share of common stock upon a business combination. Fractional rights or warrants will not be issued, and holders must contact their brokers for the separation process.
- The separation of units allows for increased liquidity for shareholders.
- Facilitates trading flexibility for investors by allowing separate trading of common stock, rights, and warrants.
- Holders of fractional units will lose one-half of a warrant upon separation.
- The reliance on the initial business combination adds uncertainty regarding future stock performance.
The Common Stock, Rights and Warrants will be traded under the symbols "BMAQ", "BMAQR", and BMAQW" respectively
New York, NY, Nov. 02, 2021 (GLOBE NEWSWIRE) -- (via Blockchain Wire) Blockchain Moon Acquisition Corp. (Nasdaq: BMAQU) (the “Company”) today announced that, commencing November 3, 2021, holders of the units sold in the Company’s initial public offering may elect to separately trade the shares of the Company’s common stock, rights and warrants included in the units.
The shares of common stock, rights and warrants that are separated will trade on The Nasdaq Global Market under the symbols “BMAQ,” ‘BMAQR” and “BMAQW,” respectively. Those units not separated will continue to trade on The Nasdaq Global Market under the symbol “BMAQU.”
Each unit consists of one share of common stock, one redeemable warrant and one right to receive one-tenth (1/10) of a share of common stock upon the consummation of an initial business combination, as described in more detail in this prospectus. Each redeemable warrant entitles the holder thereof to purchase one-half (1/2) of one share of common stock.
No fractional rights or warrants will be issued upon separation of the units and only whole rights and warrants will trade. Any holder of units whose ownership includes a fractional number of underlying warrants will be issued a number of warrants that is rounded down to the nearest whole number. Accordingly, any owner of units that does not own a multiple of two units immediately prior to separation will lose one-half of a warrant upon separation. 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, rights and warrants.
The offering of the units was made only by means of a prospectus, copies of which may be obtained by contacting Chardan, 17 State Street, 21st Floor, New York, New York 10004, or by calling (646) 465-9001. A registration statement relating to these securities has been filed with the Securities and Exchange Commission ("SEC") and became effective on July 28, 2021.Copies of the registration statement can be accessed through the SEC’s website at www.sec.gov.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities of the Company, 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.
About Blockchain Moon Acquisition Corp.
Blockchain Moon is a blank check company formed for the purpose of effecting a business combination with one or more businesses. Although there is no restriction or limitation on what industry or geographic region its target operates in, Blockchain Moon intends to pursue prospective targets that are high growth businesses in blockchain technologies in North America, Europe and Asia. The proceeds of the offering will be used to fund such business combination. The Blockchain Moon Acquisition Corp team consists of blockchain industry investors and executives including Enzo Villani, Chairman and CEO, Wes Levitt, Chief Financial Officer and board members John Jacobs, Michael Terpin, James Haft and David Shafrir.
Cautionary Note Concerning Forward-Looking Statements
This press release includes forward-looking statements that involve risks and uncertainties. Forward looking statements are statements that are not historical facts. Such forward-looking statements, including the search for an initial business combination, are subject to risks and uncertainties, which could cause actual results to differ from the forward-looking statements. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.
FAQ
What is the significance of the trading symbols BMAQ, BMAQR, and BMAQW?
When does the trading separation for BMAQU occur?
What does each unit of BMAQU consist of?
What are the potential risks associated with BMAQU's business combination?
