UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

 

FORM 8-K

 

 

 

CURRENT REPORT

Pursuant to Section 13 or Section 15(d) of The Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): December 21, 2020

 

 

 

CORNER GROWTH ACQUISITION CORP.
(Exact name of registrant as specified in its charter)

 

 

 

Cayman Islands   001-39814   98-1563902
(State or other jurisdiction of
incorporation or organization)
  (Commission File Number)   (I.R.S. Employer
Identification No.)

 

251 Lytton Avenue, Suite 200    
Palo Alto, California   94301
(Address of principal executive offices)   (Zip Code)

 

Registrant’s telephone number, including area code: (650) 543-8180

 

Not Applicable

(Former name or former address, if changed since last report)

 

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the Registrant under any of the following provisions:

 

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class   Trading Symbol(s)   Name of each exchange on which registered
Units, each consisting of one Class A Ordinary Share, $0.0001 par value, and one-third of one redeemable warrant   COOLU   The Nasdaq Stock Market LLC
Class A Ordinary Shares included as part of the units   COOL   The Nasdaq Stock Market LLC
Redeemable warrants included as part of the units, each whole warrant exercisable for one Class A Ordinary Share at an exercise price of $11.50   COOLW   The Nasdaq Stock Market LLC

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934.

 

Emerging growth company ☒

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

 

 

 

 

Item 8.01. Other Events.

 

On December 21, 2020, Corner Growth Acquisition Corp. (the “Company”) consummated an initial public offering (the “IPO”) of 40,000,000 units (the “Units”), including 5,000,000 Units as a result of the underwriter’s partial exercise of its over-allotment option, at an offering price of $10.00 per Unit and a private placement with CGA Sponsor, LLC (the “Sponsor”) of 7,600,000 private placement warrants at a price of $1.50 per warrant (the “Private Placement”). As a result of the underwriter’s determination not to fully exercise its over-allotment option, the Sponsor forfeited an aggregate of 62,500 shares of the Company’s Class B ordinary shares.

 

A total of $400,000,000, comprised of the net proceeds from the IPO (which amount includes $14,000,000 of the underwriter’s deferred commissions), together with certain of the proceeds from the Private Placement, were placed in a trust account established for the benefit of the Company’s public shareholders and the underwriter of the IPO with Continental Stock Transfer & Trust Company acting as trustee. Except for the withdrawal of interest or other income to pay income taxes, or upon the redemption by public shareholders of Class A ordinary shares in connection with certain amendments to the Company’s amended and restated memorandum and articles of association, none of the funds held in the trust account will be released until the earlier of (a) the completion of the Company’s initial business combination or (b) the redemption of 100% of the Class A ordinary shares included in the Units and issued by the Company in the IPO, if the Company has not consummated an initial business combination within 24 months from the closing of the IPO, subject to applicable law.

 

An audited balance sheet as of December 21, 2020 reflecting receipt of the proceeds upon consummation of the IPO and the Private Placement has been issued by the Company and is included as Exhibit 99.1 to this Current Report on Form 8-K.

 

Item 9.01. Financial Statements and Exhibits.

 

(d) Exhibits

 

Exhibit No. Description
99.1 Audited Balance Sheet

 

1

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

Date: December 29, 2020 CORNER GROWTH ACQUISITION CORP.
   
  By: /s/ David Kutcher
  Name: David Kutcher
  Title: Chief Financial Officer

 

 

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