Sandbridge Acquisition Corporation Announces the Separate Trading of Stocks and Warrants
Sandbridge Acquisition Corporation (NYSE: SBG.U) (the “Company”) announced that, commencing November 5, 2020, holders of the units sold in the Company’s initial public offering of 23,000,000 units may elect to separately trade the shares of Class A common stock and redeemable warrants included in the units. Those units not separated will continue to trade on the New York Stock Exchange (the “NYSE”) under the symbol “SBG.U,” and the shares of Class A common stock and redeemable warrants that are separated will trade on the NYSE under the symbols “SBG” and “SBG WS,” respectively. No fractional warrants will be issued upon separation of the units and only whole warrants will trade. Holders of units will need to have their brokers contact Continental Stock Transfer & Trust Company, the Company’s transfer agent, in order to separate the units into shares of Class A common stock and redeemable warrants.
The units were initially offered by the Company in an underwritten offering. Citigroup Global Markets Inc. and UBS Securities LLC acted as joint book-running managers. Academy Securities, Inc., Drexel Hamilton, LLC, Roberts and Ryan Investments Inc., Siebert Williams Shank & Co., LLC and R. Seelaus & Co., LLC acted as co-managers. A registration statement relating to the units and the underlying securities became effective on September 14, 2020.