SportsMap Tech Acquisition Corp. Announces the Separate Trading of its Common Stock and Warrants, Commencing November 16, 2021

Rhea-AI Summary

SportsMap Tech Acquisition Corp. (NASDAQ: SMAPU) announced that starting November 16, 2021, holders of the units from its IPO can trade shares of the Company’s common stock and warrants separately. Shares will trade under the symbols SMAP for common stock and SMAPW for warrants on the Nasdaq Capital Market. No fractional warrants will be issued, and units not separated will continue under the symbol SMAPU. This announcement does not constitute an offer to sell or solicit securities.

Positive

• Holders can separately trade shares and warrants, enhancing trading flexibility.
• Common stock and warrants now have their dedicated symbols, potentially improving liquidity.

Negative

• None.

HOUSTON--(BUSINESS WIRE)-- SportsMap Tech Acquisition Corp. (NASDAQ: SMAPU) (the “Company”) announced today that, commencing November 16, 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.

No fractional warrants will be issued upon separation of the units and only whole warrants will trade. The shares of common stock and warrants that are separated will trade on the Nasdaq Capital Market under the symbols “SMAP” and “SMAPW,” respectively. Those units not separated will continue to trade on the Nasdaq Global Market under the symbol “SMAPU.” 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.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities of the Company, 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 SportsMap Tech Acquisition Corp.

SportsMap Tech Acquisition Corp. is a blank check company organized for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or other similar business combination with one or more businesses or entities. The Company may pursue a business combination opportunity in any business or industry it chooses.

Forward-Looking Statements

This press release includes forward-looking statements that involve risks and uncertainties. Forward-looking statements are statements that are not historical facts. Such forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ from the forward-looking statements, including those set forth in the risk factors section of the prospectus used in connection with the Company’s initial public offering. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based, except as required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211110005900/en/

David Gow

713-479-5302

info@sportsmaptech.com

Source: SportsMap Tech Acquisition Corp.

FAQ

When can I start trading shares of SportsMap Tech Acquisition Corp. separately?

You can start trading shares separately from November 16, 2021.

What are the trading symbols for the common stock and warrants of SportsMap Tech Acquisition Corp.?

The common stock trades under the symbol SMAP and the warrants under SMAPW.

Will fractional warrants be issued when separating units?

No, only whole warrants will be issued upon the separation of units.

What will happen to the units that are not separated?

Units that are not separated will continue to trade under the symbol SMAPU.