Item 5. Market for Registrant’s Common Equity
ITEM 5. MARKET FOR REGISTRANT’S
COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES
Our Units began to trade on the Nasdaq Global
Market, or Nasdaq, under the symbol “NUBIU” on March 11, 2022. The Class A common stock, warrants, and rights comprising the
Units began separate trading on Nasdaq on May 2, 2022, under the symbols “NUBI” and “NUBIW” respectively.
Holders of Record
As of December 31, 2022, there were 4 holders of record of our Class
A common stock, 1 holder of record of our Class B common stock. The number of record holders was determined from the records of our transfer
agent.
Dividends
We have not paid any cash dividends on our shares
of Class A common stock to date and do not intend to pay cash dividends prior to the completion of an initial business combination. The
payment of cash dividends in the future will be dependent upon our revenues and earnings, if any, capital requirements and general financial
condition subsequent to completion of a business combination. The payment of any dividends subsequent to a business combination will be
within the discretion of our board of directors at such time. It is the present intention of our board of directors to retain all earnings,
if any, for use in our business operations and, accordingly, our board of directors does not anticipate declaring any dividends in the
foreseeable future. In addition, our board of directors is not currently contemplating and does not anticipate declaring any share dividends
in the foreseeable future. Further, if we incur any indebtedness, our ability to declare dividends may be limited by restrictive covenants
we may agree to in connection therewith.
Securities Authorized for Issuance Under Equity
Compensation Plans
None.
Recent Sales of Unregistered Securities
On March 15, 2022, simultaneously with the closing
of the IPO, we sold the Sponsor 5,405,000 warrants (the “Private Warrants”) at a price of $1.00 per Private Warrant, generating
total proceeds of $5,405,000. The Private Warrants are identical to the warrants sold in the IPO except that holders of the Private Warrants
may not transfer, assign, or sell any of the Private Warrants or underlying securities until the date that is 30 days after the date we
complete our initial business combination except to permitted transferees. Our Sponsor was granted certain demand and piggyback registration
rights in connection with the purchase of the Private Warrants.
Purchases of Equity Securities by the Issuer
and Affiliated Purchasers
None.
ITEM 6. [RESERVED]
As a smaller reporting company, we are not required
to make disclosures under this Item.
Text extracted from the filing as submitted to EDGAR. Formatting, tables and exhibits are simplified for reading; the original document is authoritative for anything you rely on.