Interprivate IVP.U = 1C, 1/2W
NEW YORK, Feb. 3, 2020 /PRNewswire/ -- InterPrivate Acquisition Corp. (NYSE: IPV.U) (the "Company") announced today that it priced its initial public offering of 21,000,000 units at $10.00 per unit. The units will commence trading on February 4, 2020 on the New York Stock Exchange under the symbol "IPV.U."
Each unit consists of one share of common stock and one-half of one redeemable warrant, with each whole warrant entitling the holder to purchase one share of common stock at a price of $11.50 per share. Once the securities comprising the units begin separate trading, the common stock and warrants are expected to be traded on the NYSE under the symbols "IPV" and "IPV WS", respectively.
The underwriters have been granted a 45-day option to purchase up to an additional 3,150,000 units offered by the Company to cover over-allotments, if any.
The offering is expected to close on or about February 6, 2020, subject to customary closing conditions.
EarlyBirdCapital, Inc. is acting as the sole book-running manager of the offering. I-Bankers Securities, Inc. is acting as co-manager.