Novus NOVSU = 1C + 1W
$375 million pipe. Fidelity involved.
Martha Stuart and Hillbilly Elegy author on board of Harvest.
Full Warrant 1 + 11.50 call 18. ------ $9.20 adjust below.
IPO Trust $10.00 - $100,000,000 (or $115,000,000 if the over-allotment option is exercised in full)
Term 18 months.
Closed On May 19, 2020
Our management team consists of experienced deal makers, operators, and investors. Our Chairman, Robert J. Laikin, has over 20 years of experience operating a public company in the technology hardware, software, distribution and value-added customized logistic services marketplace. In 1989, Mr. Laikin founded Brightpoint, Inc.(Nasdaq:CELL), a global leader in device lifecycle services to the wireless and high-tech industries and lead the company through the rapidly changing technology-driven industry during the 23 years leading to its acquisition by Ingram Micro Inc.(NYSE:IM) in 2012 for $1.1 billion. Mr. Laikin currently serves as Chairman of the Board of Washington Prime Group, Inc., (NYSE: WPG), an industry-leading multi-faceted, retail real estate owner, developer and manager, and is a co-founder and managing member of L7 Investment, LLC, a privately held real estate investment vehicle.
Larry M Paulson, our Chief Executive Officer, has over 30 years of global senior management experience in wireless technology with Nokia Oy (NYSE:NOK), Brightpoint Inc. (Nasdaq:CELL) and most recently Qualcomm Inc. (Nasdaq:QCOM), all global leaders in their field in their respective time periods. In his most recent role with Qualcomm, Mr. Paulson was responsible for a broad set of customers in semi conductor and software sales for mobile, Industrial IOT, automobile, voice and music, wifi mesh and networking, smart watches, smart home, consumer IOT, AR and VR and computing segments.
In addition, if (x) we issue additional shares of common stock or equity-linked securities for capital raising purposes in connection with the closing of our initial business combination at an issue price or effective issue price of less than $9.20 per share of common stock (with such issue price or effective issue price to be determined in good faith by our board of directors, and in the case of any such issuance to our initial stockholders or their affiliates, without taking into account any founders’ shares held by them prior to such issuance), (y) the aggregate gross proceeds from such issuances represent more than 60% of the total equity proceeds, and interest thereon, available for the funding of our initial business combination on the date of the consummation of our initial business combination (net of redemptions), and (z) the volume weighted average trading price of our common stock during the 20 trading day period starting on the trading day prior to the day on which we consummate our initial business combination (such price, the “Market Value”) is below $9.20 per share, the exercise price of the warrants will be adjusted (to the nearest cent) to be equal to 115% of the greater of (i) the Market Value or (ii) the price at which we issue the additional shares of common stock or equity-linked securities.