NBST Newbury Street Acquisition
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): April 14, 2021
NEWBURY STREET ACQUISITION CORPORATION
(Exact name of registrant as specified in its charter)
|(State or other jurisdiction|
8 Newbury Street
Boston, MA 02116
(Address of principal executive offices, including zip code)
Registrant’s telephone number, including area code: (617) 893-3057
(Former name or former address, if changed since last report)
|¨||Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)|
|¨||Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)|
Securities registered pursuant to Section 12(b) of the Act:
|Title of each class||Trading Symbol(s)||Name of each exchange on which registered|
|Units, each consisting of one share of Common Stock and one-half of one Redeemable Warrant||NBSTU||The Nasdaq Stock Market LLC|
|Common Stock, par value $0.0001 per share||NBST||The Nasdaq Stock Market LLC|
|Warrants, each exercisable for one share of Common Stock for $11.50 per share||NBSTW||The Nasdaq Stock Market LLC|
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company x
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
Item 8.01 Other Events.
Separate Trading of Units, Common Stock and Warrants
On March 25, 2021, Newbury Street Acquisition Corporation (the “Company”) consummated its initial public offering (the “IPO”) of 12,000,000 (the “Units”). Each Unit consists of one share of common stock of the Company, par value $0.0001 per share (“Common Stock”), and one-half of one redeemable warrant of the Company (the “Warrants”), with each whole Warrant entitling the holder thereof to purchase one share of Common Stock for $11.50 per share. The Units were sold at a price of $10.00 per Unit, generating gross proceeds to the Company of $120,000,000. In connection with the IPO, the underwriters were granted a 45-day option from the date of the prospectus (the “Over-Allotment Option”) to purchase up to 1,800,000 additional units (the “Over-Allotment Units”) to cover over-allotments, if any. On March 30, 2021, the Underwriters exercised the Over-Allotment Option in part and purchased an additional 843,937 Over-Allotment Units, generating gross proceeds of $8,439,370.
On April 14, 2021, the Company issued a press release, a copy of which is attached as Exhibit 99.1 to this Current Report on Form 8-K, announcing that the holders of the Units may elect to separately trade the Common Stock and Warrants comprising the Units commencing on April 16, 2021. Those Units not separated will continue to trade on The Nasdaq Stock Market LLC under the symbol “NBSTU,” and the Common Stock and Warrants that are separated will trade on The Nasdaq Stock Market LLC under the symbols “NBST” and “NBSTW,” respectively. No fractional warrants will be issued upon separation of the units and only whole warrants will trade. Holders of the Units will need to have their brokers contact Continental Stock Transfer & Trust Company, the Company’s transfer agent, in order to separate the Units into Common Stock and Warrants.
Item 9.01 Financial Statements and Exhibits.
|(d)||Exhibits. The following exhibit is filed with this Form 8-K:|
Description of Exhibits
|99.1||Press Release dated April 14, 2021|
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
|NEWBURY STREET ACQUISITION CORPORATION|
|By:||/s/ Thomas Bushey|
|Name: Thomas Bushey|
|Title: Chief Executive Officer|
|Dated: April 14, 2021|