New Vista Acquisition Corp Announces Pricing of Upsized $240 Million Initial Public Offering

Rhea-AI Summary

New Vista Acquisition Corp announced the pricing of its upsized initial public offering of 24,000,000 units at $10.00 per unit, set to trade under the ticker symbol NVSAU from February 17, 2021. Each unit comprises one Class A share and one-third of a warrant, with whole warrants exercisable at $11.50 per share. The offering aims to facilitate mergers with businesses in emerging technologies, especially in space and advanced air mobility. The offering closes on February 19, 2021, pending customary conditions.

Positive

• Successful pricing of $240 million IPO indicates strong investor interest.
• Focus on transformative technologies suggests potential for significant market growth in sectors like space and defense.

Negative

• Forward-looking statements introduce uncertainty regarding the IPO's completion and business combination.
• Potential dilution risk from the over-allotment option for an additional 3,600,000 units.

New Vista Acquisition Corp (the “Company”) announced today that it priced its upsized initial public offering of 24,000,000 units at $10.00 per unit. The units will be listed on The Nasdaq Capital Market (“Nasdaq”) and trade under the ticker symbol “NVSAU” beginning February 17, 2021. Each unit consists of one Class A ordinary share and one-third of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one Class A ordinary share at a price of $11.50 per share, subject to adjustment. Only whole warrants are exercisable. Once the securities comprising the units begin separate trading, the Class A ordinary shares and redeemable warrants are expected to be listed on Nasdaq under the symbols “NVSA” and “NVSAW,” respectively.

The Company is a blank check company incorporated as a Cayman Islands exempted company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The Company intends to focus on businesses engaged with emerging and transformational technologies, focusing particularly on businesses operating within (1) space, defense and communications and (2) advanced air mobility and logistics industries.

Citigroup Global Markets Inc. and Jefferies LLC are acting as joint book-running managers. The Company has granted the underwriters a 45-day option to purchase up to an additional 3,600,000 units at the initial public offering price to cover over-allotments, if any.

The offering is being made only by means of a prospectus. When available, copies of the prospectus may be obtained from Citigroup Global Markets Inc., Attention: Prospectus Department, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, Telephone: (800) 831-9146, or Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, Telephone: (877) 821-7388, Email: Prospectus_Department@Jefferies.com.

Registration statements relating to the securities became effective on February 16, 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 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 February 19, 2021, subject to customary closing conditions.

Forward-Looking Statements

This press release contains statements that constitute “forward-looking statements,” including with respect to the proposed initial public offering and/or completion of an initial business combination. No assurance can be given that the offering will be completed on the terms described, or at all, or that the Company will complete an initial business combination. 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 statements and preliminary prospectus for the Company’s offering filed with the U.S. Securities and Exchange Commission (the “SEC”). Copies of these documents 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210216006261/en/

FAQ

What is the purpose of New Vista Acquisition Corp's IPO on NVSAU?

The IPO aims to raise funds for mergers and acquisitions with companies in emerging technologies.

When will NVSAU units start trading?

The units will begin trading on February 17, 2021.

What are the terms for exercising the warrants associated with NVSAU?

Each whole warrant can be exercised to purchase one Class A ordinary share at a price of $11.50.

What is the total value of the initial public offering for NVSAU?

The total value of the IPO is $240 million, based on the pricing of 24,000,000 units at $10.00 each.

When is the expected closing date for the NVSAU offering?

The offering is expected to close on February 19, 2021, subject to customary closing conditions.