Northern Genesis Acquisition Corp. II (NGAB.U) Prices Upsized $360M IPO

Northern Genesis Acquisition Corp. II announced the pricing of its $360 million IPO this evening and its units are expected to begin trading on the NYSE under the symbol “NGAB.U” Wednesday, January 13.

The new company aims to combine with a business that is improving global sustainability with predictable revenue and little material technology risk. Northern Genesis II is led by CEO Ian Robertson, CFO Ken Manget, Chair Chris Jarratt, and President Michael Hoffman.

Total SPAC deal count for 2021 year-to-date is now 35 with $9.1 billion in gross proceeds raised. This offering is expected to close on Friday, January 15.

J.P. Morgan Securities LLC, Barclays Capital Inc. and CIBC World Markets Corp. are acting as the joint book-running managers for the offering. Graubard Miller is serving as Issuer’s Counsel with Davis Polk & Wardwell serving as Underwriter’s Counsel. Marcum LLP serves as auditor. Continental Stock Transfer & Trust Company LLC is acting as trustee.