McLaren Technology Acquisition Corp. Announces the Separate Trading of its Class A Common Stock and Warrants
December 20 2021 - 3:15PM
McLaren Technology Acquisition Corp. (the “Company”) announced
today that, commencing December 23, 2021, holders of the 20,125,000
units sold in the Company’s initial public offering may elect to
separately trade the Company’s Class A common stock and
warrants included in the units. Class A common stock and
warrants that are separated will trade on the Nasdaq Stock Market
LLC under the symbols “MLAI” and “MLAIW,” respectively. No
fractional warrants will be issued upon separation of the units and
only whole warrants will trade. Those units not separated will
continue to trade on the Nasdaq Stock Market LLC under the symbol
“MLAIU.” 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 Class A common
stock and warrants.
The Company is a blank check company formed for
the purpose of effecting a merger, capital stock exchange, asset
acquisition, stock purchase, reorganization or similar business
combination with one or more businesses. While the Company may
pursue an initial business combination target in any business,
industry or geographic location, it intends to focus its search on
companies within the banking, financial services and insurance
sector that leverage artificial intelligence, machine learning,
digital, technology, and fintech.
The units were initially offered by the Company
in an underwritten offering. Mizuho Securities USA LLC acted as the
sole book running manager for the offering. A registration
statement relating to these securities has been filed with, and
declared effective by, the Securities and Exchange Commission
(“SEC”) on November 2, 2021. This press release shall not
constitute an offer to sell or the solicitation of an offer to buy,
nor shall there be any sale of these securities in any state or
jurisdiction in which such an offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
Cautionary Note Concerning
Forward-Looking Statements
This press release contains statements that
constitute “forward-looking statements.” Forward-looking statements
are subject to numerous conditions, many of which are beyond the
control of the Company, including those set forth in the Risk
Factors section of the Company’s registration statement and
prospectus for the offering filed with the SEC. Copies are
available on the SEC’s website, www.sec.gov. The Company undertakes
no obligation to update these statements for revisions or changes
after the date of this release, except as required by law.
Contact
Sajan Pillai McLaren Technology Acquisition Corp. (949)
989-4638
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