KL Acquisition Corp Announces Separate Trading of its Class A Common Stock and Warrants, Commencing March 1, 2021
KL Acquisition Corp (Nasdaq: KLAQU) announced that starting March 1, 2021, holders of its 28,750,000 units can separately trade Class A common stock and warrants. The stocks will trade under symbols KLAQ and KLAQW, while unseparated units will continue under KLAQU. This follows the SEC's declaration of an effective registration statement on January 7, 2021. KL Acquisition Corp is focused on potential business combinations in the healthcare sector, led by CEO Doug Logigian and affiliated with Kennedy Lewis Management LP.
- The ability for unit holders to separately trade Class A common stock and warrants may improve liquidity.
- The focus on healthcare businesses could lead to strategic growth opportunities.
- None.
NEW YORK, Feb. 24, 2021 /PRNewswire/ -- KL Acquisition Corp (Nasdaq: KLAQU) (the "Company") announced today that, commencing March 1, 2021, holders of the 28,750,000 units sold in the Company's initial public offering may elect to separately trade shares of the Company's Class A common stock and warrants included in the units. Class A common stock and warrants that are separated will trade on The Nasdaq Capital Market under the symbol "KLAQ" and "KLAQW", respectively. 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 Markets under the symbol "KLAQU." 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 Class A common stock and warrants.
A registration statement relating to these securities has been filed with the Securities and Exchange Commission ("SEC") and declared effective on January 7, 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 an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
The Company is a blank check company 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. While the Company may pursue an initial business combination target in any business or industry, it intends to focus its search on companies in the healthcare or healthcare-related sectors. The Company is led by Chief Executive Officer and Chairman of the Board of Directors, Doug Logigian. The sponsor of the Company is KL Sponsor LLC, an affiliate of Kennedy Lewis Management LP, a leading alternative asset manager with significant investment experience and dedicated healthcare expertise with a focus on life sciences.
FORWARD-LOOKING STATEMENTS
This press release contains statements that constitute "forward-looking statements." 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 final prospectus for the 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.
CONTACT
Doug Logigian
Chief Executive Officer
KL Acquisition Corp
Tel: (212) 782-3480
Email: ir@klacquisitioncorp.com
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SOURCE Kennedy Lewis
FAQ
What is the significance of KL Acquisition Corp's announcement on March 1, 2021?
What symbols will be used for the Class A common stock and warrants after separation?
Why is KL Acquisition Corp focusing on the healthcare sector?
Who is leading KL Acquisition Corp?
