Foresight Acquisition Corp. Announces the Separate Trading of Its Class A Common Stock and Warrants Commencing on or About April 5, 2021
Foresight Acquisition Corp. (Nasdaq: FOREU) announced that holders of its 31,625,000 units from the IPO on February 12, 2021, can separately trade Class A common stock and warrants starting April 5, 2021. Units not separated will continue to trade under FOREU, while separated shares will trade under symbols FORE and FOREWS. The Company aims to pursue business combinations primarily in technology-enabled consumer and consumer healthcare sectors. Cowen acted as the sole book-running manager for this offering.
- Holders can now trade shares and warrants separately, enhancing liquidity.
- Focus on technology-enabled consumer and healthcare sectors can lead to strategic partnerships.
- No assurance on the use of net proceeds from the IPO, posing a risk to investor confidence.
Foresight Acquisition Corp. (Nasdaq: FOREU) (the “Company”) today announced that holders of the units sold in the Company’s initial public offering of 31,625,000 units completed on February 12, 2021, may elect to separately trade the shares of Class A common stock and warrants included in the units commencing on or about April 5, 2021. 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 the Nasdaq Capital Market (“Nasdaq”) under the ticker symbol “FOREU,” and the Class A common stock and warrants that are separated will trade on the Nasdaq under the symbols “FORE” and “FOREWS,” respectively.
The Company was formed for the purpose of entering into a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. While the Company may pursue an initial business combination with a business in any industry, sector or stage of its corporate evolution, it initially intends to focus its search in the technology-enabled consumer and consumer healthcare industries.
Cowen served as sole book-running manager of the offering.
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.
Forward-Looking Statements
This press release contains statements that constitute “forward-looking statements,” including with respect to the anticipated use of the net proceeds of the Company’s initial public offering. No assurance can be given that the net proceeds of the offering will be used as indicated. 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 SEC. Copies of these documents 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.
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