other material
confidence high
sentiment neutral
materiality 0.80
SmartRent completes SPAC merger with Fifth Wall Acquisition; begins trading on NYSE under SMRT
SmartRent, Inc.
- Business combination closed Aug 24, 2021; Legacy SmartRent became wholly owned subsidiary of SmartRent, Inc.
- Legacy SmartRent stockholders received ~4.8846 shares of new Class A common stock per share of Legacy SmartRent common stock.
- PIPE investment of $155M (15.5M shares at $10.00) consummated; total shares outstanding approximately 193.7M after giving effect to redemptions.
- Only $2,460 redeemed from trust (246 shares at ~$10.00); remaining ~$345M in trust used to fund the combination.
- Common stock began trading on NYSE under symbol SMRT on Aug 25, 2021; beneficial ownership table corrected via this amendment (scrivener's errors).