Quantum FinTech Acquisition Corporation Announces the Separate Trading of its Common Stock and Warrants, Commencing March 10, 2021

Rhea-AI Summary

Quantum FinTech Acquisition Corporation announced that starting March 10, 2021, holders of its IPO units can trade shares of its common stock and warrants separately.

Units will trade under the symbol QFTA.U, while common stock and warrants will trade under QFTA and QFTA WS, respectively. Investors need to contact Continental Stock Transfer & Trust Company for separation. The SEC declared the registration statements effective on February 4, 2021. This announcement does not constitute an offer to sell or solicit any offers to buy securities.

Positive

• Separation of common stock and warrants allows for greater flexibility for investors.
• Effective SEC registration indicates compliance and readiness for trading.
• Potential for increased trading volume with separate listings.

Negative

• None.

(www.QFTACORP.com)

Tampa, FL, March 05, 2021 (GLOBE NEWSWIRE) -- Quantum FinTech Acquisition Corporation (the “Company”) announced today that, commencing March 10, 2021, holders of the units sold in the Company’s initial public offering may elect to separately trade shares of the Company’s common stock and warrants included in the units.

Any units not separated will continue to trade on the New York Stock Exchange (the “NYSE”) under the symbol “QFTA.U,” and the shares of common stock and warrants that are separated will trade on the NYSE under the symbols “QFTA” and “QFTA WS,” respectively. Holders of units will need to have their brokers contact Continental Stock Transfer & Trust Company, the Company’s transfer agent, in order to separate the units into shares of common stock and warrants.

Registration statements relating to these securities were declared effective by the Securities and Exchange Commission (“SEC”) on February 4, 2021. The offering was made only by means of a prospectus, copies of which may be obtained by contacting Chardan, 17 State Street, 21st floor, New York, New York 10004 or by calling (646) 465-9001. Copies of the registration statements can be accessed through the SEC's website at www.sec.gov.

This press release shall not constitute an offer to sell or a 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.

About Quantum FinTech Acquisition Corporation

Quantum FinTech Acquisition Corporation (www.qftacorp.com) is a blank check company, also commonly referred to as a special purpose acquisition company, or SPAC, formed for the purpose of entering into a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization or other similar business combination with one or more businesses. While the Company may pursue an initial business combination in any region or sector, it intends to focus its efforts on identifying high-growth financial services and FinTech businesses as targets for its initial business combination.

Forward Looking Statements

This press release contains statements that constitute “forward-looking statements,” including with respect to the Company’s search for an initial business combination. No assurance can be given 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 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.

Contact:
Investor Relations
Quantum FinTech Acquisition Corporation
IR@qftacorp.com
(www.qftacorp.com)

FAQ

What is Quantum FinTech Acquisition Corporation's stock symbol?

The stock symbol for Quantum FinTech Acquisition Corporation is QFTA.

When can units of QFTA be traded separately?

Units of QFTA can be traded separately starting March 10, 2021.

What are the new symbols for common stock and warrants after separation?

After separation, the common stock will trade under QFTA and the warrants under QFTA WS.

What was the date when the SEC declared the registration statements effective?

The SEC declared the registration statements effective on February 4, 2021.

How can holders separate their units into common stock and warrants?

Holders need to have their brokers contact Continental Stock Transfer & Trust Company to separate the units.