Software Acquisition Group Inc. II Announces Separate Trading of its Class A Common Stock and Warrants, Commencing October 6, 2020

Rhea-AI Summary

Software Acquisition Group Inc. II (NASDAQ: SAIIU) has announced the option for holders of its 17,250,000 units from the initial public offering to trade shares of its Class A common stock and warrants separately, starting October 6, 2020. The Class A common stock and warrants will be traded under the symbols 'SAII' and 'SAIIW' on Nasdaq. Holders must contact their brokers for separation. The company, focusing on mergers in the software sector, filed a registration statement, effective September 14, 2020, with the SEC, which delineates its business ambitions.

Positive

• Holders can now separate and trade Class A common stock and warrants, enhancing liquidity.
• The company targets software firms, indicating potential for strategic acquisitions.

Negative

• The offering does not guarantee successful mergers or acquisitions, posing a risk for investors.

New York, NY, Oct. 05, 2020 (GLOBE NEWSWIRE) -- Software Acquisition Group Inc. II (NASDAQ: SAIIU) (the “Company”) announced today that, commencing October 6, 2020, holders of the 17,250,000 units sold in the Company’s initial public offering may elect to separately trade shares of the Company’s Class A common stock and warrants included in the units. Class A common stock and warrants that are separated will trade on The Nasdaq Capital Market under the symbols “SAII” and “SAIIW”, respectively. No fractional warrants will be issued upon separation of the units and only whole warrants will trade. Those units not separated will continue to trade on The Nasdaq Capital Markets under the symbol “SAIIU.” 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 Class A common stock and warrants.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission and declared effective on September 14, 2020.  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.

The Company 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. While the Company may pursue an initial business combination target in any business or industry, it intends to focus its search on software companies, especially those targeting enterprise vertical sectors owned by private equity and venture capital firms as well as corporate carve-outs. The Company is led by Chairman and Chief Executive Officer, Jonathan Huberman, and Vice President of Acquisitions, Mike Nikzad.  In addition to Messrs. Huberman and Nikzad, the Board of Directors includes Andrew Nikou, Stephanie Davis, Peter Diamandis, Steven Guggenheimer and Matt Olton.

FORWARD-LOOKING STATEMENTS

This press release contains statements that constitute “forward-looking statements.” 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 final prospectus for the offering filed with the Securities and Exchange Commission (“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

Jonathan Huberman                                                                           
Chief Executive Officer
Software Acquisition Group Inc. II
jon@softwareaqn.com | 310.991.4982

FAQ

What new trading options are available for Software Acquisition Group Inc. II (SAIIU) units?

Starting October 6, 2020, holders can separately trade Class A common stock and warrants under the symbols 'SAII' and 'SAIIW'.

When was the registration statement for SAIIU's securities declared effective?

The registration statement was declared effective on September 14, 2020.

What is the focus of Software Acquisition Group Inc. II's business strategy?

The company aims to pursue mergers in the software sector, especially targeting enterprise verticals owned by private equity.