MCAP Acquisition priced its IPO of 27.5 million units at $10.00 each. The neww SPAC ofered 2.5 million more units than anticipated.
Each unit consists of one share of Class A common stock and one-third of one redeemable warrant. A whole warrant is exercisable to buy a share at $11.50.
Units begin trading today on the Nasdaq under MACQU. Once the securities comprising the units begin separate trading, stock and warrants will list under MACQ and MACQW, respectively.
The offering is expected to close March 2.
The SPAC said it will concentrate on software, technology-enabled and business services companies. Read more.
