Item 8.01. Other Events.
Separate Trading of Units, Class A Common Stock and Warrants
As previously reported, on November 22, 2019, Software Acquisition Group Inc.
(the "Company") consummated its initial public offering ("IPO") of an aggregate
of 14,950,000 units (the "Units"), including 1,950,000 Units issued pursuant to
the exercise in full of the underwriter's over-allotment option. Each Unit
consists of one share of Class A common stock of the Company, par value $0.0001
per share (the "Class A Common Stock"), and one-half of one redeemable warrant
of the Company (the "Warrants" and each a "Warrant"), with each whole Warrant
entitling the holder thereof to purchase one share of Class A Common Stock for
$11.50 per share. The Units were sold at a price of $10.00 per Unit, generating
gross proceeds to the Company of $149,500,000.
On January 3, 2019, the Company issued a press release, a copy of which is
attached as Exhibit 99.1 to this Current Report on Form 8-K, announcing that the
holders of the Units may elect to separately trade shares of the Class A Common
Stock and the Warrants comprising the Units commencing on January 6, 2020. Those
Units not separated will continue to trade on The Nasdaq Capital Market under
the symbol "SAQNU," and the Class A Common Stock and Warrants that are separated
will trade on The Nasdaq Capital Market under the symbols "SAQN" and "SAQN W,"
respectively. No fractional warrants will be issued upon separation of the Units
and only whole warrants will trade. Holders of Units will need to instruct their
brokers to contact Continental Stock Transfer & Trust Company, the Company's
transfer agent, to separate their Units into shares of Class A Common Stock and
Warrants.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
The following exhibit is filed herewith:
Exhibit No. Description of Exhibits
99.1 Press Release, dated January 3, 2019.
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