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Class Acceleration Corp. (NYSE: CLAS.U) announced that starting March 8, 2021, unit holders from its IPO can trade shares of Class A common stock and warrants separately. The Class A common stock and warrants will trade under the symbols 'CLAS' and 'CLAS WS,' respectively, while undivided units will continue to trade as 'CLAS.U.' This move follows the effectiveness of a registration statement on January 14, 2021. Class Acceleration Corp. aims to pursue business combinations primarily in the education technology sector.
Class Acceleration Corp. closed its IPO on January 20, 2021, raising $258.75 million through 25,875,000 units priced at $10.00 each. This includes 3,375,000 units from the underwriters' over-allotment option. The company's units started trading on the NYSE under the ticker CLAS.U. Each unit comprises one share of Class A common stock and half a warrant, with the latter allowing the purchase of another share at $11.50. The firm plans to focus on mergers in the education technology sector.
Class Acceleration Corp. has announced its initial public offering (IPO) of 22,500,000 units, priced at $10.00 each, effective January 15, 2021. Each unit includes one share of Class A common stock and one-half of one redeemable warrant, with each whole warrant allowing the purchase of an additional share at $11.50. The offerings will be traded on NYSE under the symbols CLAS.U, CLAS, and CLAS WS. The company plans to focus on the education technology sector for future business combinations. Oppenheimer & Co. Inc. is the sole book-running manager for this offering.
