NEW YORK and PHILADELPHIA, Sept. 18, 2020 (GLOBE NEWSWIRE) — North Mountain Merger Corp. announced today the pricing of its initial public offering of 11,500,000 units at $10.00 per unit. The units will be listed on the Nasdaq and trade under the ticker symbol “NMMCU”. Each unit consists of one share of the Company’s Class A common stock and one-half of one redeemable warrant. Each whole warrant is exercisable to purchase one share of the Company’s Class A common stock at a price of $11.50 per share. Once the securities comprising the units begin separate trading, the Class A common stock and warrants are expected to be listed on Nasdaq under the symbols “NMMC” and “NMMCW,” respectively.
North Mountain Merger Corp. was formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. The Company intends to focus its search for a target business in the fintech industry.
Citigroup Global Markets Inc. is acting as sole book-running manager and sole underwriter of this offering. The Company has granted the underwriters a 45-day option to purchase up to 1,725,000 additional units at the initial public offering price to cover over-allotments, if any.