Novus definition
Examples of Novus in a sentence
These interests include: • the beneficial ownership of Novus’s board of directors and officers and their affiliates of an aggregate of 5,980,773 shares of Novus Class B Common Stock and 4,566,625 Novus Warrants, which shares and warrants would become worthless if Novus does not complete a business combination within the applicable time period, as our directors and officers have waived any right to redemption with respect to these shares.
For more information about Energy Vault, see the sections titled “Information About Energy Vault” and “Energy Vault Management’s Discussion and Analysis of Financial Condition and Results of Operations.” On September 8, 2021, Novus, Merger Sub and Energy Vault entered into the Business Combination Agreement, pursuant to which Novus and Energy Vault will consummate the Business Combination.
In contrast, Novus and Energy Vault have each engaged a financial advisor (rather than underwriters) in connection with the Business Combination.
Based on such market values, Novus’s board of directors and officers will have an unrealized gain of approximately $52.4 million on their Novus securities; • our directors and officers and their affiliates have agreed to purchase an aggregate of 1,100,000 shares of Novus Common Stock in the PIPE at a purchase price of $10.00 per share, which purchase will not occur if Novus does not complete the Business Combination; • Messrs.
While Novus currently expects that its independent directors would take legal action on Novus’s behalf against V Donargo LLC to enforce its indemnification obligations to Novus, it is possible that Novus’s independent directors in exercising their business judgment may choose not to do so in any particular instance.
Based on the closing sale price of Novus Common Stock on the Record Date, each such individual’s membership interest have a value of $1,191,535 and will have an unrealized gain on this investment of $941,535 (based on the closing sale price of the Novus Common Stock of $9.96 as of the Record Date) .
Such shares and warrants have an aggregate market value of approximately $65.2 million based on the closing prices of Novus Common Stock and warrants of $9.96 and $1.24, respectively on the NYSE on the Record Date, assuming no shares of Novus Common Stock are redeemed by the Public Stockholders and giving effect to the the forfeiture of 598,077 Founder Shares by Novus’s directors and officers and their affiliates.
In addition, prior to our business combination (a) as holders of Novus common stock, our Public Stockholders will not have the right to vote on the appointment of our directors and (b) holders of a majority of the outstanding shares of Novus Class B common stock may remove a member of our board of directors for any reason.
Based on such market values, Novus’s board of directors and officers will have an unrealized gain of approximately $52.4 million on their Novus securities; • our officers and directors and their affiliates have agreed to purchase an aggregate of 1,100,000 shares of Novus Common Stock in the PIPE at a purchase price of $10.00 per share, such purchase is contingent upon the completion of the Business Combination; • Messrs.
Such shares and warrants have an aggregate market value of approximately $65.2 million based on the closing prices of Novus Common Stock and warrants of $9.96 and $1.24, respectively on the NYSE on the Record Date, assuming no shares of Novus Common Stock are redeemed by the Public Stockholders and giving effect to the forfeiture of an aggregate of 598,077 Founder Shares by our directors and officers and their affiliates.