SPAC Pontem Corporation Planning IPO to Raise Funds for Investment in the Industrial and Technology Sectors

According to SEC filings, Pontem Corporation is planning an IPO that registers 43,125,000 units of securities to trade on the NYSE. The units will trade under the ticker symbol PNTM.U, according to this plan. Pontem Corporation expects the units will begin separate trading on the 52nd day following the date of the prospectus (12/28/2020). Once separate trading begins class A shares will be listed under the ticker symbol PNTM. Additionally, warrants will trade under the ticker symbols PNTM WS.

The price per unit is $10, which brings the proposed maximum aggregate offering price to $431.25 million. However, this figure includes the issuance of an additional 5.65 million units to underwriters in the event of any over-allotments. Without the exercise of these options, the value of the deal...

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