Tortoise SPAC goes public

Tortoise Acquisition Corp. II, a blank check company sponsored by Tortoise Investments, has debuted its IPO after pricing its 30 million shares at $10 per share. The stock began trading September 11, 2020 on the New York Stock Exchange under the ticker symbol “SNPR.U.” Barclays and Goldman Sachs are the lead underwriters.

PRESS RELEASE

NEW YORK, New York–(BUSINESS WIRE)–Tortoise Acquisition Corp. II (the “Company”) today announced 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 “SNPR.U” beginning September 11, 2020. Each unit consists of one of the Company’s Class A ordinary shares and one-fourth 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. 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 “SNPR” and “SNPR WS,” respectively.

Barclays and Goldman Sachs & Co. LLC are acting as joint book-running managers for the offering. AmeriVet Securities, Inc. is acting as co-manager 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 initial public offering price to cover over-allotments, if any.

The offering is expected to close on September 15, 2020, subject to customary closing conditions.

The public offering is being made only by means of a prospectus. When available, copies of the prospectus related to the offering may be obtained from Barclays, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, email: barclaysprospectus@broadridge.com, tel: (888) 603-5847; and Goldman Sachs & Co. LLC, Attn: Prospectus Department, 200 West Street, New York, New York 10282, email: prospectus-ny@ny.email.gs.com, tel: (866) 471-2526.

A registration statement relating to these securities has been declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on September 10, 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 TORTOISE ACQUISITION CORP. II
Tortoise Acquisition Corp. II was formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination. The Company intends to focus its search for a target business in the broad energy transition or sustainability arena targeting industries that require innovative solutions to decarbonize in order to meet critical emission reduction objectives.