Sports Ventures Acquisition Corp. Announces the Separate Trading of its Class A Ordinary Shares and Warrants
February 22 2021 - 5:18PM
Sports Ventures Acquisition Corp. (the “Company”) announced today
that, commencing February 26, 2021, holders of the 23,000,000 units
sold in the Company’s initial public offering may elect to
separately trade the Company’s Class A ordinary shares and
warrants included in the units. Class A ordinary shares and
warrants that are separated will trade on the Nasdaq Stock Market
LLC under the symbols “AKIC” and “AKICW,” 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
“AKICU.” 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
ordinary shares and warrants.
Sports Ventures Acquisition Corp. is a blank check company
incorporated for the purpose of effecting a merger, share exchange,
asset acquisition, share purchase, reorganization or similar
business combination with one or more businesses. While the Company
may pursue a business combination target in any business or
industry, the Company intends to focus its search on companies with
operations or prospective operations in the sports, media and
entertainment sectors. The Company is led by Chief Executive
Officer, Alan Kestenbaum, Chief Financial Officer and President,
Robert Tilliss, and Chief Operating Officer, Daniel Strauss.
The units were initially offered by the Company in an
underwritten offering. Deutsche Bank Securities Inc. acted as sole
book running manager of the offering. A registration statement
relating to these securities has been filed with, and declared
effective by, the Securities and Exchange Commission (“SEC”) on
January 5, 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,” including with respect to the
Company’s search for an initial business combination.
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 for the 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.
Contact
Daniel Strauss Sports Ventures Acquisition Corp.
786-650-0074contact@sportsventuresacq.com
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