Seven Oaks Acquisition Corp. Announces Closing of Upsized $258.75M IPO
Seven Oaks Acquisition Corp. (the “Company”) today announced the closing of its upsized initial public offering of 25,875,000 units at a price of $10.00 per unit, including 3,375,000 units issued pursuant to the exercise by the underwriters of their over-allotment option in full. The units are listed on The NASDAQ Capital Market (“NASDAQ”) and began trading under the ticker symbol “SVOKU” on December 18, 2020. Each unit consists of one share of Class A common stock of the Company and one-half of one redeemable warrant with each whole warrant exercisable to purchase one share of Class A common stock at a price of $11.50 per share. Once the securities comprising the units begin separate trading, the Class A common stock and warrants are expected to be listed on NASDAQ under the symbols “SVOK” and “SVOKW,” respectively.
Seven Oaks Acquisition Corp., led by Chairman and CEO Gary Matthews, is a special purpose acquisition company formed for the purpose of entering into a business combination with one or more businesses. While the Company may pursue a business combination in any industry, the Company intends to focus its search on companies with strong Environmental, Social and Governance practices or the ability to materially improve such practices.
JonesTrading Institutional Services LLC (“JonesTrading”) acted as sole book-running manager for the offering. National Securities Corporation, a wholly owned subsidiary of National Holdings Corporation (NasdaqCM:NHLD), served as lead manager for the offering. Academy Securities, Loop Capital Markets and Tigress Financial Partners acted as co-managers for the offering.