Progress Acquisition Corp. Announces the Separate Trading of Its Class A Common Stock and Warrants, Commencing March 16, 2021

Push Release

updated: Mar 12, 2021 16:46 EST

Progress Acquisition Corp. (NASDAQ: PGRWU) (the “Business”) declared that, commencing on or about March 16, 2021, holders of the models bought in the Company’s initial community supplying may well elect to separately trade shares of the Firm’s Class A typical stock and warrants provided in the models. No fractional warrants will be issued on separation of the units and only entire warrants will trade. The shares of Class A common inventory and warrants that are separated will trade on the Nasdaq Capital Market place less than the symbols “PGRW” and “PGRWW,” respectively. These models not divided will go on to trade on the Nasdaq Cash Current market under the symbol “PGRWU.” Holders of units will require to have their brokers contact Continental Stock Transfer & Belief Company, the Company’s transfer agent, in buy to different the units into shares of Course A prevalent inventory and warrants.

This push release shall not constitute an offer you to provide or the solicitation of an offer you to invest in the securities of the Corporation, nor shall there be any sale of these securities in any condition or jurisdiction in which this kind of give, solicitation or sale would be unlawful prior to registration or qualification less than the securities legislation of any these types of condition or jurisdiction.

About Development Acquisition Corp.

Progress Acquisition Corp. is a blank verify firm shaped for the reason of effecting a merger, cash stock trade, asset acquisition, stock order, reorganization, or similar business blend with one particular or more enterprises. Whilst the Enterprise could go after an acquisition in any business market or sector, it intends to focus on options in media, entertainment, and technology, with an emphasis on interesting targets that drop in the electronic ecosystem. The Firm is led by Chairman Carl Vogel, CEO and Director, Warren Schlichting, Directors Richard Battista, Chris Kelly, Sanjay Puri and Luisa Ingargiola, President David Arslanian and CFO Richard Gallagher.

Forward-Seeking Statements

This press release may perhaps include, and oral statements created from time to time by representatives of the Business might include things like, “ahead-searching statements” within just the which means of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical truth bundled in this push launch are forward-hunting statements. When made use of in this push launch, phrases these as “foresee,” “consider,” “carry on,” “could,” “estimate,” “assume,” “intend,” “may perhaps,” “may possibly,” “prepare,” “possible,” “likely,” “forecast,” “task,” “should,” “would” and equivalent expressions, as they relate to the Company or its management group, identify forward-on the lookout statements. Such ahead-hunting statements are dependent on the beliefs of management, as very well as assumptions made by, and information currently offered to, the Company’s management. True success could differ materially from individuals contemplated by the ahead-hunting statements as a consequence of certain aspects in-depth in the Company’s filings with the Securities and Exchange Commission (“SEC”). All subsequent prepared or oral forward-hunting statements attributable to the Enterprise or individuals acting on its behalf are capable in their entirety by this paragraph. Forward-searching statements are topic to many problems, lots of of which are beyond the management of the Company, which include people established forth in the Possibility Things segment of the Company’s registration statement for the Company’s first general public offering filed with the SEC. The Company undertakes no obligation to update these statements for revisions or changes right after the day of this launch, besides as expected by regulation.


Richard Gallagher
Main Economic Officer
Development Acquisition Corp.
(617) 401-2700

Source: Development Acquisition Corp.

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