Tortoise Acquisition Corp. II Files For IPO: What You Need to Know
offer 250 million shares at a price of $10 per share, according to a Monday SEC filing. ” data-reactid=”20″>Tortoise Acquisition Corp. II (NYSE: SNPR) will offer 250 million shares at a price of $10 per share, according to a Monday SEC filing.
Each share will be for one share of the company along with one-quarter of a warrant to purchase a share at an $11.50 price point. Warrants will be redeemable 30 days after the completion of the business combination.
SHLL), which announced in June that it was merging with Hyliion, an electrified powertrain solutions provider for Class 8 trucks.
The first offering from the company sold 23,300,918 shares at $10 each.
Tortoise Acquisition Corp. II will search for a “business in the broad energy transition or sustainability arena targeting industries that require innovative solutions to decarbonize.”
Similar to the SHLL offering, the prospectus contained statistics based on zero emissions standards and the Paris Agreement.
Since the merger announcement with Hyliion, SHLL shares have been on fire. Shares are up 199% as investors wait for the merger to close.
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