KINS Technology Group Inc. Announces Pricing of Upsized $240 Million Initial Public Offering
December 15 2020 - 8:31AM
KINS Technology Group Inc. (the “Company”) announced today that it
priced its initial public offering of 24,000,000 units at $10.00
per unit, reflecting an upsize of 4,000,000 units. The units will
be listed on The Nasdaq Capital Market (“Nasdaq”) and trade under
the ticker symbol “KINZU” beginning December 15, 2020. Each unit
consists of one share of Class A common stock and one-half of one
redeemable warrant. Each whole warrant entitles the holder thereof
to purchase one share of Class A common stock at a price of $11.50
per share. Only whole warrants are exercisable. The Company has
granted the underwriters a 45-day option to purchase up to an
additional 3,600,000 units at the initial public offering price to
cover over-allotments, if any.
Once the securities comprising the units begin separate trading,
the shares of Class A common stock and redeemable warrants are
expected to be listed on Nasdaq under the symbols “KINZ” and
“KINZW,” respectively.
The Company is a blank check company focused on transformational
technology companies 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
UBS Securities LLC, Stifel, Nicolaus & Company, Incorporated
and BTIG, LLC are acting as joint book-running managers.
The offering is being made only by means of a prospectus. When
available, copies of the prospectus may be obtained from UBS
Securities LLC, Attention: Prospectus Department, 1285 Avenue of
the Americas, New York, NY 10019, by telephone at (888) 827-7275 or
by email at ol-prospectusrequest@ubs.com or Stifel, Nicolaus &
Company, Incorporated, Attn: Syndicate Department, One South
Street, 15th Floor, Baltimore, Maryland 21202, email:
syndprospectus@Stifel.com or by telephone at (855) 300-7136; or
BTIG, LLC, 65 East 55th Street, New York, NY 10022, or by e-mail at
equitycapitalmarkets@btig.com.
Registration statements relating to the securities became
effective on December 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 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,” including with respect to the
proposed initial public offering. No assurance can be given that
the offering will be completed on the terms described, or at all.
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 offering filed with the U.S. Securities
and Exchange Commission (the “SEC”) and the preliminary prospectus
included therein. Copies of these documents 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.
Investor Contact:
KINS Technology Group Inc.Khurram P. SheikhChairman & Chief
Executive Officerkhurram@kins-tech.com
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