Spartan Acquisition Corp II, a blank check company backed by Apollo Global Management, has gone public after pricing its 30 million shares at $10 per share. The stock began trading November 25, 2020 on the New York Stock Exchange under the ticker symbol “SPRQ U.” Citigroup, Credit Suisse and Cowen are the lead underwriters.
New York, Nov. 24, 2020 (GLOBE NEWSWIRE) — Spartan Acquisition Corp. II (the “Company”) announced today the pricing of its initial public offering (“IPO”) of 30,000,000 units at a price of $10.00 per unit. The units will be listed on the New York Stock Exchange (the “NYSE”) and trade under the ticker symbol “SPRQ U” beginning on November 25, 2020. Each unit consists of one share of the Company’s Class A common stock and one-half of one redeemable warrant, with each whole warrant entitling the holder thereof to purchase one share of the Company’s Class A common stock at an exercise price of $11.50 per share. Once the securities comprising the units begin separate trading, the shares of Class A common stock and warrants are expected to be listed on the NYSE under the symbols “SPRQ” and “SPRQ WS,” respectively.
Citigroup, Credit Suisse and Cowen are acting as book-running managers and representatives of the underwriters. Morgan Stanley, Barclays and RBC Capital Markets are acting as book-running managers for the offering. TD Securities, MUFG and Siebert Williams Shank are acting as co-managers for the offering. The Company has granted the underwriters a 45-day option to purchase up to an additional 4,500,000 units at the IPO price.
The public offering will only be made by means of a prospectus. Copies of the preliminary prospectus relating to the offering and final prospectus, when available, may be obtained from Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717 or by telephone at (800) 831-9146; Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, 6933 Louis Stephens Drive, Morrisville, North Carolina 27560, Telephone: (800) 221-1037, email: email@example.com; or Cowen and Company, LLC c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY,11717, Attn: Prospectus Department, by email at PostSaleManualRequests@broadridge.com or by telephone at (833) 297-2926.
A registration statement relating to these securities has been declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on November 24, 2020. 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 offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Spartan Acquisition Corp. II
Spartan Acquisition Corp. II was formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination. The Company intends to focus its search for a target business in the energy value chain in North America, with a particular focus on opportunities aligned with energy transition and sustainability themes. The Company is sponsored by Spartan Acquisition Sponsor II LLC, which is owned by a private investment fund managed by an affiliate of Apollo Global Management, Inc. (“Apollo”) (NYSE: APO).