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

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Northern Genesis Acquisition Corp. Redeemable Warrants each warrant exercisable for shares of common stock at an exercise price of $11.50 per share > Share Conversion??

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Post by WallaceFlinton Jan 28, 2021 11:43pm

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Post# 32417488

Share Conversion??

Anyone can explain what will happen to our shares at the conversion?

Seems to be a 1 for 1 (Exchange Ratio). But NGA shares is 23$ and LEV will be 10$. Will we be losing?

Can someone explain?

This seems fuzzy... will be subject to customary adjustments... Does this mean we could get 2 shares (to match the NGP 23$ share price?)

Each share of common stock of the Company (“Company Common Stock”) issued and outstanding immediately prior to the Effective Time (other than any Excluded Shares and Redemption Shares, each as defined below) will be converted into the right to receive from Lion Electric the number of fully-paid and nonassessable Lion Electric Common Shares (after giving effect to the Company Split Adjustment) equal to an exchange ratio (the “Exchange Ratio”), which will initially be one (1) but will be subject to customary adjustments pursuant to the Business Combination Agreement for stock splits, reverse stock splits, stock dividends, reorganizations, recapitalization, reclassification, combination, exchange of shares or like changes occurring after the Company Split Adjustment (the “Per Share Merger Consideration”);