Twelve Seas Investment Company II Announces Closing of $300,000,000 Initial Public Offering
03 März 2021 - 1:30AM
Twelve Seas Investment Company II (the “Company”) announced today
that it closed its initial public offering of 30,000,000 units at
$10.00 per unit. The units are listed on the Nasdaq Capital Market
(“Nasdaq”) and began trading on Friday, February 26, 2021, under
the ticker symbol “TWLVU”. Each unit consists of one share of the
Company’s Class A common stock and one-third 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. 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 warrants are
expected to be listed on Nasdaq under the symbols “TWLV” and
“TWLVW,” respectively.
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 intends to focus its search on global companies
located outside the United States, focusing on those with equity
values between $500 million and $2 billion. While the Company will
not focus on any particular sector, it plans to consider business
services, consumer, financials, healthcare, telecom and media,
technology and clean energy. The Company is led by Chairman, Neil
Richardson, Chief Executive Officer, Dimitri Elkin and Chief
Financial Officer, Jonathan Morris.
Mizuho Securities USA LLC acted as the sole book running manager
for the offering. The Company has granted the underwriters a 45-day
option to purchase up to an additional 4,500,000 units at the
initial public offering price to cover over-allotments, if any.
Xtellus Capital Partners Inc. and Beech Hill Securities, Inc. acted
as co-managers on this offering.
Of the proceeds received from the consummation of the initial
public offering and simultaneous private placement of units,
$300,000,000 (or $10.00 per unit sold in the public offering) was
placed in trust. An audited balance sheet of the Company as of
March 2, 2021 reflecting receipt of the proceeds upon consummation
of the initial public offering and the private placement will be
included as an exhibit to a Current Report on Form 8-K to be filed
by the Company with the Securities and Exchange Commission
(“SEC”).
The offering was made only by means of a prospectus.
Copies of the prospectus may be obtained, when available,
from Mizuho Securities USA LLC, Attention: Equity Capital Markets,
1271 Avenue of the Americas, New York 10020; Telephone:
212-205-7600.
A registration statement relating to these securities has been
filed with, and declared effective by, the SEC on February 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
Company’s initial business combination. 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
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.
Contact
Dimitri Elkin Twelve Seas Investment Company II delkin
@twelveseascapital .com
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