Novus Capital Corp II, a blank check company targeting businesses enabling smart technology evolution, raised $250 million by offering 25 million units at $10. Each unit consists of one share of common stock and one-third of a warrant, exercisable at $11.50.
The company is led by CEO and Director Robert Laikin, who is currently a Managing Member of L7 Investments and previously served as Government Relations Executive at Ingram Micro, and Chairman Larry Paulson, who previously served as Qualcomm's VP of Sales in North America, and is also the founder and Principal of wireless consulting firm Rancho Santa Fe Solutions.
Novus Capital Corp II plans to target businesses that are on the forefront of high technology and enabling the future evolution of smart technologies, 5G communication, virtual reality, and other areas. The company plans to focus on businesses with valuations between $500 million and $1.5 billion, and also intends to consider environmental, social and corporate governances (ESG) factors.
Management's previous SPAC, Novus Capital Corp, went public in May 2020 and recently completed its acquisition of "high-tech greenhouse" developer AppHarvest (APPH; +214% from $10 offer price).
Novus Capital Corp II plans to list on the NYSE under the symbol NXU.U. Cowen acted as a lead manager on the deal.
