OTR Closes $104.5M IPO

The company’s units began trading Tuesday on the Nasdaq under “OTRAU.” Once the securities comprising the units begin separate trading, shares and warrants are expected to list on Nasdaq under “OTRA” and “OTRAW,” respectively. Underwriters partially exercised the over-allotment option for 447,350 units, leaving 1,052,650 units still available under the option. OTR is targeting companies with an enterprise value of approximately $500 million to $2.5 billion. Read more.

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FTAC Emerald Delays Extension Vote Again

FTAC had faced a termination deadline in June, but just before it was due to expire the SPAC announced it had signed a letter of intent for a merger with an unnamed target. That automatically extended the SPAC’s runway to Sept. 20. There has been no further announcement regarding the LOI.