Offering and terminating on the five-year anniversary of the date of the completion of such initial Business Combination or earlier upon redemption or liquidation of the Company; provided, however, that pursuant to the Warrant Agreement (as defined below), a fractional Warrant may not be exercised, so that only a whole Warrant may be exercised at any given time by a holder thereof. As used herein, the term “Business Combination” (as described more fully in the Prospectus) shall mean a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses involving the Company.
The Company has entered into an Investment Management Trust Agreement, effective as of [•], 2020 (the “Trust Agreement”), with Continental Stock Transfer & Trust Company (“CST”), as trustee (the “Trustee”), in substantially the form filed as Exhibit 10.3 to the Registration Statement (as defined below), pursuant to which proceeds from the sale of the Private Placement Warrants (as defined below) and proceeds of the Offering will be deposited and held in a trust account (the “Trust Account”) for the benefit of the Company, the Underwriters and the Public Stockholders (as defined below).
The Company has entered into a Warrant Agreement, effective as of [•], 2020 (the “Warrant Agreement”), with respect to the Warrants, the Private Placement Warrants and the Forward Purchase Warrants (as defined below) with CST, as warrant agent, in substantially the form filed as Exhibit 4.4 to the Registration Statement, pursuant to which CST will act as warrant agent in connection with the issuance, registration, transfer, exchange, redemption, and exercise of the Warrants, the Private Placement Warrants and the Forward Purchase Warrants.
The Company has entered into a Securities Subscription Agreement, dated as of September 9, 2020 (the “Founder’s Purchase Agreement”), with Supernova Partners LLC, a Delaware limited liability company (the “Sponsor”), pursuant to which the Sponsor purchased an aggregate of 11,500,000 shares of the Company’s Class B common stock, par value $0.0001 per share, for an aggregate purchase price of $25,000 (including the shares of Common Stock issuable upon conversation thereof, the “Founder Shares”). On September 14, 2020, the Company effected a 0.75-for-1 reverse stock split of the Founders Shares, resulting in 8,625,000 Founder Shares outstanding.
The Sponsor has entered into Securities Assignment Agreements, each dated September 24, 2020, with each of Ken Fox, Damien Hooper-Campbell, Jim Lanzone, Gregg Renfrew and Rajeev Singh, pursuant to which the Sponsor transferred 34,500 Founder Shares to each of Ken Fox, Damien Hooper-Campbell, Jim Lanzone, Gregg Renfrew and Rajeev Singh. Up to 1,125,000 Founder Shares are subject to forfeiture depending on the extent to which the Underwriters’ over-allotment option is exercised. The Founder Shares are substantially similar to the shares of Common Stock included in the Units, except as described in the Registration Statement, the Pricing Disclosure Package (as defined below) and the Prospectus.
The Company has entered into a Sponsor Warrants Purchase Agreement, effective as of [•], 2020 (the “Warrant Purchase Agreement”), with the Sponsor, in substantially the form filed as Exhibit 10.6 to the Registration Statement, pursuant to which the Sponsor agreed to purchase an aggregate of 5,333,333 warrants (or up to 5,933,333 warrants if the over-allotment option is exercised in full), each entitling the holder to purchase one share of Common Stock (the “Private Placement Warrants”), for $1.50 per Private Placement Warrant. The Private Placement Warrants are substantially similar to the Warrants included in the Units, except as described in the Registration Statement, the Pricing Disclosure Package and the Prospectus.