Northern Star Investment Corp. II Announces Closing of Upsized $400,000,000 Initial Public Offering
January 28 2021 - 6:44PM
Business Wire
Northern Star Investment Corp. II (the “Company”) announced
today that it consummated its upsized initial public offering of
40,000,000 units, including 5,000,000 units subject to the
underwriters’ over-allotment option, at $10.00 per unit. The units
were listed on the New York Stock Exchange (“NYSE”) and began
trading on Tuesday, January 26, 2021 under the ticker symbol
“NSTB.U”. Each unit consists of one share of the Company’s Class A
common stock and one-fifth of one redeemable warrant, each whole
warrant entitling the holder thereof to purchase one share of Class
A common stock at a price of $11.50 per share, subject to
adjustment. Only whole warrants are exercisable and will trade.
Once the securities comprising the units begin separate trading,
shares of the Class A common stock and redeemable warrants are
expected to be listed on the NYSE under the symbols “NSTB” and
“NSTB WS,” respectively.
Northern Star Investment Corp. II 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 or
entities. While the Company may pursue an initial target business
in any stage of its corporate evolution or in any industry or
sector, it initially intends to focus its search on target
businesses primarily in the beauty, wellness, self-care, fashion,
e-commerce, subscription and digital-media sectors. The Company is
led by Joanna Coles, Chairperson and Chief Executive Officer, and
Jonathan Ledecky, President and Chief Operating Officer.
Citigroup Global Markets Inc. acted as the sole book running
manager for the offering.
The offering was made only by means of a prospectus. Copies of
the prospectus may be obtained, when available, from Citigroup
Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long
Island Avenue, Edgewood, New York 11717, Telephone:
1-800-831-9146.
Registration statements relating to these securities were filed
with the Securities and Exchange Commission (“SEC”) and became
effective on January 25, 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,” including with respect to the
proposed initial public offering and the anticipated use of net
proceeds. No assurance can be given that the net proceeds of the
offering will be used as indicated. 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 and
preliminary prospectus for the offering filed with the SEC. Copies
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.
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version on businesswire.com: https://www.businesswire.com/news/home/20210128006164/en/
Investor Contact Melissa Calandruccio ICR, Inc.
646-277-1273
Media Contact Jonathan Gasthalter/Nathaniel Garnick
Gasthalter & Co. (212) 257-4170 northernstar@gasthalter.com
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