VectoIQ Acquisition Corp II
VectoIQ Acquisition Corp II is a Delaware corporation formed for the purpose of effecting a merger, share exchange, asset acquisition, stock purchase, reorganization, recapitalization or other similar business combination with one or more businesses, which we refer to throughout this prospectus as our initial business combination. We have not identified any potential initial business combination target and we have not, nor has anyone on our behalf, initiated any substantive discussions, directly or indirectly, with any potential initial business combination target.
VectoIQ Acquisition Corp II will seek to capitalize on the significant experience and network of our management team to complete our initial business combination. Although we may pursue our initial business combination in any business, industry or geographic location, we currently intend to focus on opportunities to capitalize on the ability of our management team, particularly our executive officers, to identify, acquire and operate a business in the industrial technology, transportation and smart mobility industries, which we believe has many potential target businesses. Following our initial business combination, our objective will be to implement or support the acquired business’ growth and operating strategies.
Our executive officers were executive officers, and certain of our directors were directors, of VectoIQ
Acquisition Corp. (“Vecto I”), a blank check company incorporated for the purpose of effecting a business combination. In May 2018, Vecto I completed its initial public offering, in which it sold 23 million units for an offering price of $10.00 per unit, generating aggregate gross proceeds of $230 million. In June 2020, Vecto I consummated a business combination with Nikola Corporation (“Nikola”), a designer and manufacturer of battery-electric and hydrogen-electric vehicles, electric vehicle drivetrains, vehicle components, energy storage systems, and hydrogen fueling station infrastructure. Nikola’s shares of common stock currently trade on Nasdaq under the symbol “NKLA.” In July 2020, Nikola announced that it would redeem all of its outstanding warrants that were issued in its initial public offering, based on the last sales price of Nikola’s common stock having been at least $18.00 per share on each of 20 trading days within a 30-day trading period prior to the date the notice of redemption was given.