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Tortoise Acquisition Corp II SPAC Begins Trading

SHLL) brought its second SPAC to the public markets Friday. 

August filing.” data-reactid=”21″>The company is offering 30 million shares, up from the 25 million in its initial August filing.

Shares will price at $10 each and also include a one-fourth warrant to buy a share at $11.50. The offering shares are trading as “SNPR.U.”

Shares will trade as “SNPR” and warrants as “SNPR WS” after the IPO is complete, according to Tortoise Acquisition. 

Barclays and Goldman Sachs are the joint underwriters on the offering. A 45-day option exists for the underwriters to purchase 4.5 million shares at the IPO price.

Tortoise Acquisition Corp II will raise $300 million from the offering or $345 million with the underwriter option. The IPO offering is expected to close Sept. 15. 

The team behind the SPAC believes the Paris Agreement and a focus on zero emissions standards is a growth driver for the market.

scheduled to vote on the merger Sept. 28. ” data-reactid=”32″>Success With Tortoise Acquisition Corp I: Tortoise Acquisition Corp sold 23,300,918 shares in its IPO. The company later announced its intent to merge with Hyliion, a zero-emission, Class 8 truck company. Shareholders are scheduled to vote on the merger Sept. 28. 

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