USHG Acquisition priced its IPO of 25 million units at $10 each.
Units begin trading today on the NYSE under HUGSU. Each consists of one share of Class A common stock and one-third of one redeemable warrant, with each whole warrant exercisable at $11.50. After the securities comprising the units begin separate trading, stock and warrants will liste under HUGS and HUGSW, respectively.
The new SPAC plans to target culture-driven businesses across a range of industries, including technology, e-Commerce, food and beverage, health and retail and consumer goods.
The SPAC’s sponsor is affiliated with USHG, an organization founded in 1985 by Chairman Danny Meyer. USHG began with the opening of Union Square Cafe and, in the years since then has created or operated more than 30 brands, including now publicly-traded Shake Shack. Read more.
