NightDragon Acquisition Corp. Announces Pricing of $300 Million Initial Public Offering
NightDragon Acquisition Corp. has announced the pricing of its initial public offering (IPO) of 30,000,000 SCALE units at $10.00 each. The SCALE units will be listed on the Nasdaq under the symbol NDACU, starting March 2, 2021. Each unit includes one share of Class A common stock and one-fifth of a redeemable warrant, which can be exercised at $11.50 per share. The IPO is led by Morgan Stanley, with an option for underwriters to purchase an additional 4,500,000 units. The offering is expected to close on March 4, 2021, pending customary conditions.
- Initial public offering of 30,000,000 SCALE units priced at $10.00 each.
- Units listed on Nasdaq under the ticker symbol NDACU, enhancing visibility.
- Potential for additional 4,500,000 units through underwriters' option, which may strengthen capital.
- Focus on acquisitions in the cybersecurity and safety sectors, indicating strategic business direction.
- None.
NightDragon Acquisition Corp. (the “Company”) today announced the pricing of its initial public offering of 30,000,000 SCALE units at a price of
Once the securities comprising the SCALE units begin separate trading, the Company expects that its Class A common stock and warrants will be listed on Nasdaq under the symbols ‘‘NDAC” and ‘‘NDACW,’’ respectively.
The Company was formed for the purpose of effecting a merger, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. While the Company may pursue an acquisition opportunity in any business, industry, sector or geographical location, the Company intends to focus its search on the cybersecurity, safety, security and privacy sector.
Morgan Stanley & Co. LLC is acting as lead book-running manager. Drexel Hamilton, LLC is acting as co-manager. The Company has granted the underwriters a 45-day option to purchase up to 4,500,000 additional SCALE units at the initial public offering price, less underwriting discounts and commissions, to cover over-allotments, if any.
The public offering is being made only by means of a prospectus. When available, copies of the prospectus relating to the offering may be obtained from Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014, or by email at prospectus@morganstanley.com.
A registration statement relating to the securities became effective on March 1, 2021. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities, 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 is expected to close on March 4, 2021, subject to customary closing conditions.
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