InterPrivate II Acquisition Corp. Announces the Separate Trading of its Common Stock and Warrants, Commencing April 26, 2021

Rhea-AI Summary

InterPrivate II Acquisition Corp. (NYSE: IPVA) announced that starting April 26, 2021, holders of its IPO units can separately trade shares of common stock and warrants. The stock will trade under the symbols 'IPVA' and 'IPVA WS' for common stock and warrants respectively, while units not separated will continue under 'IPVA.U'. The company aims to pursue mergers or acquisitions, specifically targeting businesses with an enterprise value of at least $1 billion across various sectors including auto-tech and e-commerce.

Positive

• Separation of units allows for trading flexibility, potentially increasing liquidity for investors.
• Focus on targeting businesses with enterprise values over $1 billion suggests potential for significant mergers or acquisitions.

Negative

• Blank check structure poses inherent risks as the company has not yet identified a target for acquisition, creating uncertainty for investors.

NEW YORK, April 23, 2021 /PRNewswire/ -- InterPrivate II Acquisition Corp. (NYSE: IPVA) (the "Company") today announced that, commencing April 26, 2021, holders of the units sold in the Company's initial public offering may elect to separately trade shares of the Company's common stock and warrants included in the units.

No fractional warrants will be issued upon separation of the units and only whole warrants will trade. The shares of common stock and warrants that are separated will trade on the New York Stock Exchange under the symbols "IPVA" and "IPVA WS," respectively. Those units not separated will continue to trade on the New York Stock Exchange under the symbol "IPVA.U." 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 and warrants.

InterPrivate II Acquisition Corp. is a blank check company whose business purpose is to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. While the Company may pursue initial business combination targets in any industry, the Company may pursue sectors including auto-tech and mobility, business services, consumer, retail, e-commerce or industrial technology, or businesses that possesses their own differentiated technology, with a focus on target companies with an enterprise value of $1 billion or more.

Morgan Stanley and EarlyBirdCapital, Inc. acted as joint book-running managers of the offering.

A registration statement relating to these securities was declared effective by the U.S. Securities and Exchange Commission (the "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 offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

The offering was made only by means of a prospectus. Copies of the prospectus relating to this offering may be obtained from Morgan Stanley, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014, or by email at prospectus@morganstanley.com; or from EarlyBirdCapital, Inc., 366 Madison Avenue, 8th Floor, New York, NY 10017, Attn: Syndicate Department, 212-661-0200.

Cautionary Note Concerning Forward-Looking Statements 

This press release contains statements that constitute "forward-looking statements," including with respect to the Company's initial public offering and search for an initial business combination. No assurance can be given that the 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 for the initial public 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.

Press Contact 

Charlotte Luer, Marketing 
cluer@interprivate.com  
+1 212 634 0826

 

View original content:http://www.prnewswire.com/news-releases/interprivate-ii-acquisition-corp-announces-the-separate-trading-of-its-common-stock-and-warrants-commencing-april-26-2021-301276090.html

SOURCE InterPrivate II Acquisition Corp.

FAQ

What is the significance of IPVA's announcement on April 23, 2021?

On April 23, 2021, InterPrivate II Acquisition Corp. announced that starting April 26, 2021, holders can separately trade shares of its common stock and warrants.

What are the trading symbols for the common stock and warrants of InterPrivate II Acquisition Corp.?

The common stock will trade under the symbol 'IPVA' and the warrants under 'IPVA WS'.

What is the focus of InterPrivate II Acquisition Corp. in its business combinations?

The company aims to pursue mergers or acquisitions, particularly targeting businesses with an enterprise value of $1 billion or more.

When did the registration statement for IPVA's securities become effective?

The registration statement for the securities was declared effective by the SEC on March 4, 2021.

Who are the joint book-running managers for InterPrivate II Acquisition Corp.'s offering?

Morgan Stanley and EarlyBirdCapital, Inc. acted as joint book-running managers for the offering.