Share this article Share this article NEW YORK, Jan. 20, 2021 /PRNewswire/ -- Group Nine Acquisition Corp. ("GNAC" or the "Company"), announced today the closing of its initial public offering of 23,000,000 units which included the full exercise of the underwriters' over-allotment option, at a price of $10.00 per unit, resulting in aggregate gross proceeds of $230,000,000. GNAC is a newly organized, blank check company formed by Group Nine Media, Inc. for the purpose of carrying out a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses or entities. The units began trading on the Nasdaq Capital Market ("Nasdaq") under the ticker symbol "GNACU" on January 15, 2021. Each unit consists of one share of GNAC's Class A common stock and one-third of one redeemable warrant, each whole warrant entitling the holder thereof to purchase one share of Class A common stock at an exercise 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 the Nasdaq under the symbols "GNAC" and "GNACW," respectively. No fractional warrants will be issued upon separation of the units and only whole warrants will trade.