EJF Acquisition priced its IPO of 25 million units at $10 per unit.
Units begin trading today on the Nasdaq under EJFAU. Each consists of one Class A ordinary share and one-third of one redeemable warrant. Each whole warrant is exercisable at $11.50. Once the securities comprising the units begin separate trading, shares and warrants are expected to list under EJFA and EJFAW, respectively.
The offering is expected to close March 1.
EJF will target financial services companies with an equity value of at least $1 billion.
The SPAC is led by Chairman and co-founder Emanuel Friedman. Prior to forming EJF, Friedman was a founder, co-chairman and co-CEO of FBR Read more.
