Supernova Partners Acquisition Company II, Ltd. Announces Closing of Upsized $345 Million Initial Public Offering, Including Full Exercise of the Underwriters' Over-Allotment Option

Rhea-AI Summary

Supernova Partners Acquisition Company II announced the closing of its IPO on March 4, 2021, raising $345 million by offering 34,500,000 units at $10.00 each. The offering included the full exercise of underwriters' over-allotment option. Supernova II aims to merge with technology companies focused on enterprise solutions. Units began trading on NYSE under the ticker SNII.U on March 2, 2021, consisting of one Class A share and one-fourth of a warrant, exerciseable at $11.50. J.P. Morgan and Jefferies served as book runners for this offering.

Positive

• Raised $345 million in IPO, indicating strong investor interest.
• Focus on technology sector, potential for high growth.
• Led by experienced team from Supernova Partners.

Negative

• None.

WASHINGTON, March 4, 2021 /PRNewswire/ -- Supernova Partners Acquisition Company II, Ltd. ("Supernova II") announced today the closing of its initial public offering of 34,500,000 units, which included the full exercise of the underwriters' over-allotment option, at a price of $10.00 per unit, resulting in gross proceeds of $345,000,000.

Supernova II is a blank check 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. Supernova II will look to partner with a technology company focused on enterprise solutions.

Supernova II is led by the team that founded its predecessor, Supernova Partners Acquisition Company, Inc., consisting of Spencer Rascoff, a serial entrepreneur who co-founded Hotwire and Zillow and who led Zillow as CEO for nearly a decade; Alexander Klabin, an investor and entrepreneur who co-founded Senator Investment Group; Robert Reid, an investor who worked for 21 years at Blackstone in its Private Equity Group; and Michael Clifton, an investor who was most recently a senior investment professional at The Carlyle Group.

The units began trading on the New York Stock Exchange (the "NYSE") under the ticker symbol "SNII.U" on March 2, 2021. Each unit consists of one Class A ordinary share of Supernova II and one-fourth of one redeemable warrant, each whole warrant entitling the holder thereof to purchase one Class A ordinary share at an exercise price of $11.50 per share. After the securities comprising the units begin separate trading, the Class A ordinary shares and warrants are expected to be listed on the NYSE under the symbols "SNII" and "SNII WS," respectively. No fractional warrants will be issued upon separation of the units and only whole warrants will trade.

J.P. Morgan Securities LLC and Jefferies LLC served as book runners for the offering.

The offering was made only by means of a prospectus. Copies of the prospectus may be obtained from:

J.P. Morgan Securities LLC
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, NY 11717
Telephone: 866-803-9204
Email: prospectuseq_fi@jpmchase.com

or

Jefferies LLC
Attention: Equity Syndicate Prospectus Department
520 Madison Avenue, 2nd Floor
New York, NY 10022
Telephone: 1-877-821-7388
Email: Prospectus_Department@Jefferies.com

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." Forward-looking statements are subject to numerous conditions, many of which are beyond the control of Supernova II, including those set forth in the Risk Factors section of Supernova II's prospectus for the offering filed with the SEC. Copies are available on the SEC's website, www.sec.gov. Supernova II 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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SOURCE Supernova Partners Acquisition Company II, Ltd.

FAQ

What is the purpose of Supernova Partners Acquisition Company II's IPO on March 4, 2021?

The IPO aims to raise funds for merging with technology companies focused on enterprise solutions.

What is the ticker symbol for Supernova Partners Acquisition Company II?

The ticker symbol for Supernova Partners Acquisition Company II is SNII.U.

How much money did Supernova Partners Acquisition Company II raise in its IPO?

Supernova Partners Acquisition Company II raised $345 million in its IPO.

What are the details of the units offered in Supernova II's IPO?

Each unit consists of one Class A ordinary share and one-fourth of a warrant, which can be exercised at $11.50.

Who were the book runners for Supernova Partners Acquisition Company II's IPO?

The book runners for the offering were J.P. Morgan Securities LLC and Jefferies LLC.