NEW YORK and PHILADELPHIA, Sept. 22, 2020 (GLOBE NEWSWIRE) — North Mountain Merger Corp. (the “Company”) announced the closing of its initial public offering of 13,225,000 units, which includes 1,725,000 units issued pursuant to the full exercise by the underwriter of its over-allotment option. The offering was priced at $10.00 per unit, resulting in gross proceeds of $132,250,000, before deducting underwriting discounts and commissions and other offering expenses payable by the Company.
The Company’s units began trading on Nasdaq under the ticker symbol “NMMCU”. Each unit consists of one share of the Company’s Class A common stock and one-half of one redeemable warrant. Each whole warrant is exercisable to purchase one share of the Company’s Class A common stock at a price of $11.50 per share. Once the securities comprising the units begin separate trading, the Class A common stock and warrants are expected to be listed on Nasdaq under the symbols “NMMC” and “NMMCW,” respectively.
The Company was 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 focus its search for a target business in the fintech industry.
Citigroup Global Markets Inc. acted as sole book-running manager and sole underwriter for the offering. The offering was made only by means of a prospectus. Copies of the prospectus relating to the offering may be obtained from Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717 or by telephone at (800) 831-9146.
A registration statement relating to the securities was declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on September 17, 2020. 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 offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
North Mountain Merger Corp.
Charles B. Bernicker