NEW YORK, Aug. 18, 2021 /PRNewswire/ -- Chardan
NexTech Acquisition 2 Corp. (the "Company") (NASDAQ: CNTQU)
announced today that an additional 1,650,000 units were issued
pursuant to the underwriters' over-allotment option in connection
with its initial public offering. The offering was priced at
$10.00 per unit, generating
additional gross proceeds of $16,500,000 and bringing the total gross proceeds
of the initial public offering to $126.5
million.
The Company's units commenced trading on the Nasdaq Capital
Market ("Nasdaq") under the ticker symbol "CNTQU" on August 11, 2021. Each unit consists of one share
of common stock and three-quarters of one redeemable warrant. Each
whole warrant entitles the holder thereof to purchase one share of
common stock at a price of $11.50 per
share. Only whole warrants are exercisable.
Once the securities comprising the units begin trading
separately, the Company expects that the common stock and
redeemable warrants will be listed on the Nasdaq under the symbols
"CNTQ" and "CNTQW," respectively.
The Company is a blank check company formed for the purpose of
effecting a merger, share exchange, asset acquisition, stock
purchase, recapitalization, reorganization or similar business
combination with one or more businesses. While the Company may
pursue an initial business combination target in any industry, it
currently intends to concentrate its search for a target business
operating in disruptive technologies. The Company is led by its
Chairman of the Board of Directors, Kerry
Propper, its Chief Executive Officer, Jonas Grossman, and its Chief Financial Officer,
Alex Weil.
Chardan served as sole book-running manager and B. Riley
Securities, Inc. acted as the qualified independent underwriter for
the offering.
The offering was made only by means of a prospectus, copies
of which may be obtained by contacting Chardan, 17 State Street,
21st Floor, New York, New York
10004, or by calling (646) 465-9001.
A registration statement relating to these securities was
declared effective by the Securities and Exchange Commission (the
"SEC") on August 10, 2021. This press
release shall not constitute an offer to sell or a 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.
Forward-Looking Statements
This press release contains statements that constitute
"forward-looking statements," including with respect to the
anticipated use of the net proceeds of the initial public offering.
No assurance can be given that the net proceeds of the offering
will be used as indicated. 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 preliminary prospectus for
the Company's offering filed with the SEC. Copies of these
documents 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
Jonas Grossman
CEO, Chardan NexTech Acquisition 2 Corp.
jgrossman@cnaq.com
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SOURCE Chardan NexTech Acquisition 2 Corp.