Northern Star Investment Corp. IV Announces Pricing of Upsized $350,000,000 Initial Public Offering
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.
- Successful upsizing of the IPO to 35,000,000 units, indicating strong demand.
- Focus on direct-to-consumer and digitally disruptive e-commerce sectors may offer growth potential.
- Granting the underwriter a 45-day option to purchase an additional 5,250,000 units could enhance capital raised.
- Potential dilution of existing shares from the sale of new units.
- Forward-looking statements indicate uncertainty regarding the completion of the offering and intended use of proceeds.
Northern Star Investment Corp. IV (the “Company”) announced today that it priced its upsized initial public offering of 35,000,000 units at
Northern Star Investment Corp. IV 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 or entities. While the Company may pursue an acquisition in any business industry or sector, it intends to focus its efforts identifying businesses primarily in the direct-to-consumer and digitally-disruptive e-commerce spaces. The Company is led by Joanna Coles, Chairperson and Chief Executive Officer, and Jonathan Ledecky, President and Chief Operating Officer.
Citigroup Global Markets Inc. is acting as the sole book running manager for the offering. The Company has granted the underwriter a 45-day option to purchase up to an additional 5,250,000 units at the initial public offering price to cover over-allotments, if any.
The offering is being made only by means of a prospectus. Copies of the prospectus may be obtained, when available, from Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, Telephone: 1-800-831-9146.
Registration statements relating to these securities have been filed with the Securities and Exchange Commission (“SEC”) and became effective on March 1, 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.
FORWARD-LOOKING STATEMENTS
This press release contains statements that constitute “forward-looking statements,” including with respect to the proposed initial public offering and the anticipated use of net proceeds. No assurance can be given that the offering discussed above will be completed on the terms described, or at all, or that the net 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 and preliminary 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.
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