LEHI, Utah, Oct. 28, 2021 /PRNewswire/ -- Banner Acquisition
Corp. (the "Company") today announced that commencing October 29, 2021, holders of the units (the
"Units") sold in the Company's initial public offering may elect to
separately trade the shares of Class A common stock, par value
$0.0001 per share ("Class A Common
Stock") and redeemable warrants included in the Units. Each
Unit consists of one shares of Class A Common Stock and one-half of
one redeemable warrant. Each whole warrant entitles the holder
thereof to purchase one share of our Class A Common Stock at a
price of $11.50 per share, subject to
adjustment. No fractional warrants will be issued upon separation
of the Units and only whole warrants will trade. The shares of
Class A Common Stock and whole redeemable warrants that are
separated will trade on the NASDAQ Stock Market (the "NASDAQ")
under the symbols "BNNR" and "BNNRW," respectively. Those Units not
separated will continue to trade on the NASDAQ under the symbol
"BNNRU." Holders of the Units will need to have their brokers
contact American Stock Transfer & Trust Company, LLC, the
Company's transfer agent, in order to separate the holders' Units
into shares of Class A Common Stock and redeemable warrants.
![(PRNewsfoto/Banner Acquisition Corp.) (PRNewsfoto/Banner Acquisition Corp.)](https://mma.prnewswire.com/media/1609294/Banner_Acquisition_Corp_Logo.jpg)
The Units were initially offered by the Company in an
underwritten offering. BofA Securities, Inc. acted as sole book
running manager and underwriter for the offering.
A registration statement relating to the Units and the
underlying securities became effective on September 7, 2021. This press release shall not
constitute an offer to sell or the solicitation of an offer to buy
the securities of the Company, 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. A copy of the final prospectus relating to the
offering may be obtained for free by visiting the U.S. Securities
and Exchange Commission (the "SEC") website at
http://www.sec.gov.
ABOUT BANNER ACQUISITION CORP.
Banner Acquisition Corp. 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. The Company intends to
seek partnership with family-owned or founder-led businesses and
industry-leading, tenured management teams looking to continue
their significant ownership in the business that they have built
for the long-term.
Banner Acquisition Corp. is sponsored by an affiliate of Banner
Ventures and led by Christopher
Christensen, who serves as Chairman of the Board, and
Tanner Ainge, who serves as Chief
Executive Officer and Director.
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 Company's initial public 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.
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SOURCE Banner Acquisition Corp.