Digital Transformation Opportunities Corp. Announces the Separate Trading of Its Class a Common Stock and Warrants, Commencing on April 30, 2021
Digital Transformation Opportunities Corp. (Nasdaq: DTOCU) announced the separation of its Units, allowing holders to trade the Class A common stock (DTOC) and warrants (DTOCW) individually starting April 30, 2021. Units not separated will continue to trade under DTOCU. This initiative provides flexibility for investors as they can now choose to trade the Common Stock and Warrants independently. The Company was formed for potential mergers and business combinations, though completing a combination transaction involves various uncertainties and conditions.
- Holders can now trade Class A common stock (DTOC) and warrants (DTOCW) separately, offering increased trading flexibility.
- Continued trading of non-separated Units ensures liquidity under the symbol DTOCU.
- Completion of a business combination remains uncertain, subject to numerous conditions beyond the Company's control.
Digital Transformation Opportunities Corp. (Nasdaq: DTOCU) (the “Company”) today announced that, commencing on April 30, 2021, holders of the units (the “Units”) sold in the Company’s initial public offering may elect to separately trade the Company’s Class A common stock (the “Common Stock”) and warrants (the “Warrants”) included in the Units.
The Common Stock and Warrants received from the separated Units will trade on the Nasdaq Capital Market (“Nasdaq”) under the symbols “DTOC” and “DTOCW”, respectively. Units that are not separated will continue to trade on Nasdaq under the symbol “DTOCU”. 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 Common Stock and Warrants.
The Company was 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.
This press release shall not constitute an offer to sell or a 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.
Forward Looking Statements
This press release contains statements that constitute “forward-looking statements.” No assurance can be given that the Company will ultimately complete a business combination transaction. 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 preliminary prospectus for the Company’s offering filed with the U.S. Securities and Exchange Commission (the “SEC”). Copies of these documents are available on the SEC’s website, at 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.
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FAQ
When can holders trade DTOC and DTOCW separately?
What are the trading symbols for the separated Class A common stock and warrants?
What happens to Units that are not separated?
What is the purpose of Digital Transformation Opportunities Corp.?
Are there any risks associated with the business combination?
