Twelve Seas Investment Company II Announces the Separate Trading of its Class A Common Stock and Warrants, Commencing April 19, 2021

Rhea-AI Summary

Twelve Seas Investment Company II (NASDAQ: TWLVU) announced that starting April 19, 2021, holders of its IPO units can trade Class A common stock and warrants separately. The common stock will trade under the symbol TWLV, while the warrants will trade under TWLVW. The units that remain unseparated will continue to trade as TWLVU. This separation is a key step for investors, allowing for more flexibility in their holdings.

Positive

• Investors can separately trade shares of Class A common stock and warrants, increasing trading flexibility.
• The separation of units allows for potential price discovery for the stock and warrants.

Negative

• None.

Los Angeles, CA, April 14, 2021 (GLOBE NEWSWIRE) -- Twelve Seas Investment Company II (NASDAQ: TWLVU) (the “Company”) announced that, commencing April 19, 2021, holders of the 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. No fractional warrants will be issued upon separation of the units and only whole warrants will trade. The shares of Class A common stock and warrants that are separated will trade on the Nasdaq Capital Market under the symbols “TWLV” and “TWLVW,” respectively. Those units not separated will continue to trade on the Nasdaq Capital Market under the symbol “TWLVU.” 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.

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 Twelve Seas Investment Company II

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, industry or geographic location, it is focusing its search on global companies located outside the United States, with equity values between $500 million and $2 billion. While the Company does not focus on any particular sector, it considers business services, consumer, financials, healthcare, telecom and media, technology and clean energy.

Forward-Looking Statements

This press release may include, and oral statements made from time to time by representatives of the Company may include, “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact included in this press release are forward-looking statements. When used in this press release, words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar expressions, as they relate to the Company or its management team, identify forward-looking statements. Such forward-looking statements are based on the beliefs of management, as well as assumptions made by, and information currently available to, the Company’s management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors detailed in the Company’s filings with the Securities and Exchange Commission (“SEC”). All subsequent written or oral forward-looking statements attributable to the Company or persons acting on its behalf are qualified in their entirety by this paragraph. 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 for the Company’s initial public offering filed with the SEC. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Contacts 

Dimitri Elkin
Twelve Seas Investment Company II
delkin @twelveseascapital .com

FAQ

When can I trade Class A common stock and warrants for TWLVU?

Holders of units can start trading Class A common stock and warrants separately on April 19, 2021.

What symbols will the separated shares and warrants trade under?

The common stock will trade under the symbol TWLV and the warrants will trade under TWLVW.

What happens to the units that are not separated?

Units that remain unseparated will continue to trade under the symbol TWLVU.

Do I need to take any action to separate my units?

Yes, holders of units must have their brokers contact Continental Stock Transfer & Trust Company to separate the units.

What is the purpose of Twelve Seas Investment Company II?

The company is formed to effect a merger, acquisition, or similar business combination with global companies, primarily outside the U.S.