Rodgers Silicon Valley Acquisition Corp. announces $200 million IPO
WOODSIDE: Rodgers Silicon Valley Acquisition Corp. announced the pricing of its initial public offering of 20 million units at an offering price of $10 per unit, with each unit consisting of one share of common stock and one-half of one redeemable warrant.
Each whole warrant will entitle the holder thereof to purchase one share of common stock at $11.50 per share. The units are expected to trade on The Nasdaq Capital Market under the ticker symbol “RSVAU” beginning December 2, 2020.
Rodgers Silicon Valley Acquisition Corp. expects the initial public offering to close on December 4, 2020, subject to customary closing conditions. Once the securities comprising the units begin separate trading, the common stock and the warrants are expected to be traded on Nasdaq under the symbols “RSVA” and “RSVAW,” respectively.
Oppenheimer & Co. Inc. is the sole book-running manager for the IPO. Rodgers Silicon Valley Acquisition Corp. has granted the underwriters a 45-day option to purchase up to 3 million additional units at the IPO price to cover over-allotments, if any.
Rodgers Silicon Valley Acquisition Corp. is a blank check company, also commonly referred to as a special purpose acquisition company, or SPAC, formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or entities.
The Company’s mission is to provide fundamental public technology investors with early access to an excellent Silicon Valley technology company with a focus on green energy, electrification, storage, Smart Industry (IoT), Artificial Intelligence and the new automated-manufacturing wave.
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