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NEW YORK, Jan. 26, 2021 /PRNewswire/ North Atlantic Acquisition Corporation ( NAAC or the Company ), today closed its initial public offering of 37,950,000 units at a price of $10.00 per unit. This closing included the upsizing of the transaction, as well as the full exercise of the underwriters over-allotment option. Of the proceeds received from the consummation of the initial public offering and a simultaneous private placement of warrants, $379,500,000 (or $10.00 per unit sold in the public offering) was placed in the Company s trust account.
The units are listed on the Nasdaq Capital Market ( Nasdaq ) and commenced trading under the ticker symbol NAACU on January 22, 2021. Each unit consists of one Class A ordinary share and one-third of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one Class A ordinary share at a price of $11.50 per share, subject to readjustment. Only whole warrants