Switchback II Corporation Announces Launch of Initial Public Offering
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DALLAS, Jan. 5, 2021 /PRNewswire/ -- Switchback II Corporation (the "Company") announced today that it has commenced its initial public offering ("IPO") of 25,000,000 units at a price of $10.00 per unit. The Company intends to grant the underwriters a 45-day option to purchase up to an additional 3,750,000 units. Each unit issued in the IPO will consist of one of the Company's Class A ordinary shares and one-fifth of one redeemable warrant, with each whole warrant entitling the holder thereof to purchase one of the Company's Class A ordinary shares at an exercise price of $11.50 per share. The units are expected to be listed on the New York Stock Exchange (the "NYSE") and trade under the ticker symbol "SWBK.U." Once the securities comprising the units begin separate trading, the Class A ordinary shares and warrants are expected to be listed on the NYSE under the symbols "SWBK" and "SWBK.WS," respectively.