VG Acquisition Corp. Announces Filing of Registration Statement

Rhea-AI Summary

VG Acquisition Corp. has filed a Registration Statement on Form S-1 with the SEC for an initial public offering of 40 million units at $10.00 each. Each unit will comprise one share of Class A common stock and one-third of a redeemable warrant. The company aims to list these units on the New York Stock Exchange under the symbol VGAC. Established for merger and acquisition purposes, VG Acquisition Corp. will focus on consumer-facing businesses in the U.S. and Western Europe.

Positive

• Proposed IPO of 40 million units indicates strong investor interest.
• Focus on consumer-facing industries in the U.S. and Western Europe suggests potential for robust market expansion.

Negative

• No existing operational history or revenue stream to support valuation.
• Market reception and competition for SPACs could impact share performance.

NEW YORK, Sept. 16, 2020 /PRNewswire/ -- VG Acquisition Corp. (the "Company) a special purpose acquisition company, announced today that it filed a registration statement on Form S-1 (the "Registration Statement") with the U.S. Securities and Exchange Commission (the "SEC") relating to the proposed initial public offering of 40,000,000 units at a price of $10.00 per unit, consisting of one share of Class A common stock and one-third of one redeemable warrant. The Company has applied to list the units on the New York Stock Exchange under the symbol "VGAC." 

The Company is a newly formed company incorporated for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The Company intends to search for targets that operate in consumer-facing industries in the United States and Western Europe.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities.  Any offers, solicitations of offers to buy, or any sales of securities will be made in accordance with the registration requirements of the U.S. Securities Act of 1933, as amended (the "Securities Act").  This announcement is being issued in accordance with Rule 135 under the Securities Act. 

 

 

 

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SOURCE VG Acquisition Corp.

FAQ

What is VG Acquisition Corp. planning with the SEC?

VG Acquisition Corp. has filed for an initial public offering of 40 million units.

What will each unit in the VG Acquisition Corp. IPO consist of?

Each unit will consist of one share of Class A common stock and one-third of a redeemable warrant.

Where will VG Acquisition Corp.'s units be listed?

The units are expected to be listed on the New York Stock Exchange under the symbol VGAC.

What industries is VG Acquisition Corp. targeting for acquisitions?

VG Acquisition Corp. is targeting consumer-facing industries in the U.S. and Western Europe.

What is the price of the units in the VG Acquisition Corp. IPO?

The proposed price for each unit is $10.00.