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MarketScreener Homepage  >  Equities  >  Nasdaq  >  5:01 Acquisition Corp.    FVAM

5:01 ACQUISITION CORP.

(FVAM)
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5:01 ACQUISITION CORP. Other Events (form 8-K)

10/22/2020 | 04:44pm EST
Item 8.01 Other Events.



On October 16, 2020, 5:01 Acquisition Corp. (the "Company") consummated its initial public offering (the "IPO") of 8,000,000 shares of its Class A common stock, par value $0.0001 per share ("Class A Common Stock"), generating gross proceeds to the Company of $80,000,000.

Substantially concurrently with the closing of the IPO, the Company completed the private sale of 360,000 shares of Class A Common Stock to the Company's sponsor, 5:01 Acquisition LLC, at a purchase price of $10.00 per share, generating gross proceeds to the Company of $3,600,000.

A total of $80,000,000, comprised of net proceeds from the IPO and the private sale of the shares of Class A Common Stock was placed in a U.S.-based trust account maintained by Continental Stock Transfer & Trust Company, acting as trustee. An audited balance sheet as of October 16, 2020 reflecting receipt of the proceeds upon consummation of the IPO and the private sale of the Class A Common Stock has been issued by the Company and is included as Exhibit 99.1 to this Current Report on Form 8-K.

© Edgar Online, source Glimpses

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Managers and Directors
NameTitle
Andrew J. Schwab Co-Chief Executive Officer & Director
Kush M. Parmar Co-Chief Executive Officer & Director
Rebecca L. Lucia Chief Financial Officer & Treasurer
Daniella Beckman Independent Director
Martin W. MacKay Independent Director
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