Flame Acquisition closed its IPO of 28.75 million units, which included the full exercise of the underwriters’ over-allotment option, at a price of $10 per unit.
Units trade on the NYSE under FLME.U. Each consists of one share of Class A common stock and one-half of one redeemable warrant, each whole warrant entitling the holder to purchase a share of Class A common stock at $11.50. After the securities comprising the units begin separate trading, shares and warrants are expected to list under FLME and FLME.WS, respectively.
The SPAC will target North American businesses in the energy industry. Read more.
