Rodgers Silicon Valley Acquisition Corp. Announces Closing of $230 Million Initial Public Offering
WOODSIDE, Calif.–(BUSINESS WIRE)–Rodgers Silicon Valley Acquisition Corp. (NASDAQ: RSVAU, the “Company”) announced today that it closed its initial public offering of 23,000,000 units, which includes 3,000,000 units issued pursuant to the exercise by the underwriter of their over-allotment option. The offering was priced at $10.00 per unit, resulting in gross proceeds of $230,000,000. Each unit consists of one share of common stock and one-half of one redeemable warrant. Each whole warrant will entitle the holder thereof to purchase one share of common stock at $11.50 per share.
The units are listed on The Nasdaq Capital Market (“Nasdaq”) and began trading under the ticker symbol “RSVAU” on December 2, 2020. Once the securities comprising the units begin separate trading, the common stock and warrants are expected to be listed on Nasdaq under the symbols “RSVA” and “RSVAW” respectively.
Oppenheimer & Co. Inc. acted as the sole book-running manager for the IPO.
The offering was made only by means of a prospectus, copies of which may be obtained by contacting Oppenheimer & Co. Inc. Attention: Syndicate Prospectus Department, 85 Broad Street, 26th Floor, New York, NY 10004, or by telephone at (212) 667-8563, or by email at EquityProspectus@opco.com or by visiting EDGAR on the SEC’s website at www.sec.gov.
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.
About Rodgers Silicon Valley Acquisition Corp.
Rodgers Silicon Valley Acquisition Corp. is a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The Company’s mission is to provide fundamental public technology investors with early access to an excellent Silicon Valley technology company with a focus on green energy, electrification, storage, Smart Industry (IoT), Artificial Intelligence and the new automated-manufacturing wave.
Forward Looking Statements
This press release includes forward-looking statements that involve risks and uncertainties. Forward looking statements are statements that are not historical facts. Such forward-looking statements, including the successful consummation of the Company’s initial public offering, are subject to risks and uncertainties, which could cause actual results to differ from the forward looking statements. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.
Rodgers Silicon Valley Acquisition Corp.
Thurman J. Rodgers