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Northern Star Investment Corp. IV (NYSE: NSTD) received notification from the NYSE regarding non-compliance with listing requirements due to not filing its Quarterly Report on Form 10-Q for Q1 2021. This delay stems from the re-evaluation of warrants accounting after an SEC statement clarified compliance for SPACs. While the company is working to complete the Form 10-Q, there is no immediate impact on its NYSE listing. The NYSE may grant an extension for filing under specific circumstances.
Northern Star Investment Corp. IV has completed its upsized IPO, raising $400 million through the sale of 40,000,000 units at $10.00 each, including a 5,000,000-unit overallotment option. Each unit comprises one share of Class A common stock and one-sixth of a redeemable warrant, allowing purchase of additional shares at $11.50 per share. The units began trading on March 2, 2021, under the ticker symbol ‘NSTD.U’. The blank check company aims to target acquisitions in direct-to-consumer and digitally-disruptive e-commerce sectors.
Northern Star Investment Corp. IV has announced its upsized initial public offering of 35,000,000 units, priced at $10.00 each. The units will be listed on the NYSE under the ticker symbol NSTD.U and trade starting March 2, 2021. Each unit includes one share of Class A common stock and one-sixth of a redeemable warrant, which can be exercised at $11.50 per share. The offering is aimed at raising capital for potential mergers or acquisitions, particularly in the e-commerce sector. Citigroup Global Markets is the sole book-running manager for the offering.
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