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Northern Genesis Acquisition Corp. II (NGAB) announced plans to merge with Embark Trucks Inc. The business combination is set to close around November 10, 2021, pending stockholder approval on November 9, 2021. Following the merger, Northern Genesis 2 will be renamed Embark Technology, Inc. and its shares will trade on Nasdaq under the symbol EMBK. This strategic move aims to enhance market presence and facilitate growth in the evolving tech industry.
Northern Genesis Acquisition Corp. II (NYSE: NGAB.U) has announced the separation of its units starting March 5, 2021. Shareholders can now trade shares of common stock and warrants separately, with the new trading symbols being ‘NGAB’ for common stock and ‘NGAB.W’ for warrants. The units will continue to trade under ‘NGAB.U’. As a blank check company, Northern Genesis aims to focus on businesses aligned with sustainability and strong environmental, social, and governance principles. The offering was initially underwritten by J.P. Morgan, Barclays, and CIBC.
Northern Genesis Acquisition Corp. II announced its initial public offering (IPO) of 36 million units at $10.00 each, expected to start trading on the NYSE under the symbol “NGAB.U” on January 13, 2021. Each unit includes one share of common stock and one-third of a redeemable warrant, with whole warrants priced at $11.50 per share. The entity intends to pursue business combinations with a focus on sustainability and ESG principles. The IPO is managed by J.P. Morgan, Barclays, and CIBC, and is anticipated to close on January 15, 2021.
