Burgundy Technology Acquisition Corp Announces Closing of Underwriters’ Over-Allotment Option In Connection With Its Initial Public Offering
NEW YORK–(BUSINESS WIRE)–Sep 18, 2020–
Burgundy Technology Acquisition Corporation (the “Company”), which is co-founded and led by tech industry veterans Léo Apotheker and Jim Mackey, announced today that it closed the issuance of an additional 4,500,000 units pursuant to the full exercise of the underwriters’ over-allotment option in connection with its initial public offering at $10.00 per unit, resulting in gross proceeds of $45,000,000 and bringing the total gross proceeds of the initial public offering to $345,000,000.
The Company’s units are listed on the Nasdaq Capital Market (“Nasdaq”) and commenced trading under the ticker symbol “BTAQU” on August 27, 2020. Each unit consists of one of the Company’s Class A ordinary shares and one-half of one redeemable warrant, each whole warrant entitling the holder thereof to purchase one Class A ordinary share at a price of $11.50 per share. Only whole warrants will trade and are exercisable. Once the securities