COVA Acquisition priced its upsized IPO of 26.1 million units at a price of $10 each. The upsize represents a 31 percent increase from the 20 million units the SPAC originally planned to offer.
Units bewgin trading today on the Nasdaq under COVAU. Each consists of one Class A ordinary share of the Company and one-half of one redeemable warrant. A whole warrant entitles the holder to purchase one Class A ordinary share at $11.50. Once the securities comprising the units begin separate trading, shares and warrants will list under COVA and “COVAW, respectively.
The SPAC was formed by Crescent Cove Advisors to search for a target in the high growth technology and tech-enabled businesses in Southeast Asia in the consumer internet, ecommerce, and software industries. Read more.
