VectoIQ Acquisition Corp. II
VTIQU
NASDAQ Capital Market10.06
USD
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VectoIQ Acquisition Corp. II
VTIQU
(NASDAQ Capital Market)
Recent
price
10.06
P/E
ratio
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div
yld
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ROIC.AI
Capital Structure
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in mil. unless spec.- Similar Companies
- Business
- VectoIQ Acquisition Corp. II (VTIQU) operates as a blank check company, or special purpose acquisition company (SPAC), focused on effecting a merger, share exchange, asset acquisition, stock purchase, reorganization, recapitalization or similar business combination with one or more businesses in the industrial technology, transportation and smart mobility industries; it conducts no significant independent operations. The company provides public market access to target entities through its IPO proceeds, which were raised at $345 million in January 2021 via 34.5 million units priced at $10 each, fully exercising underwriters' over-allotment options from Cowen and Morgan Stanley; units comprise one Class A ordinary share and one-fifth of a redeemable warrant. Incorporated in 2020 as a Delaware corporation and headquartered in Mamaroneck, New York, VectoIQ Acquisition Corp. II targets global opportunities, leveraging its management team's expertise from prior SPAC VectoIQ Acquisition Corp., which merged with Nikola Corporation (NKLA) in June 2020. No initial business combination target has been identified or pursued to date, with the company maintaining trust investments in U.S. government securities or money market funds. In recent developments, the company extended its completion window via shareholder approval in December 2022 but remains pre-merger amid low trading volume for VTIQU on Nasdaq; its predecessor redeemed warrants in July 2020 following Nikola's post-merger stock performance.
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