Northern Genesis Acquisition Corp. Redeemable Warrants each warrant exercisable for shares of common stock at an exercise price of $11.50 per share NGA.WS

Question

[CashCow23]

Love this store and thinking about buying more. What I can't figure out is what portion of Lion is owned by NGA and how will the PIPE effect this? Right now NGA is valued at ~1.5b. This is clearly for a portion of Lion. But what portion (is there a conversion rate for Lion shares) and what happens when the full share sale of $350+million hits. Will NGA be diluted? Sorry but not familiar with SPAC conversion