Atlantic Coastal Acquisition priced its IPO of 30 million units at \$10.00 per unit.
The units begin trading today on the Nasdaq under ACAHU. Each consists of one share of Class A common stock and one-third of one warrant. Each whole warrant is exercisable to purchase a share of Class A common stock at $11.50. Once the securities comprising the units begin separate trading, shares and warrants are expected to list under ACAH and ACAHW, respectively.
The SPAC has granted the underwriter a 45-day option to purchase up to an additional 4.5 million units at the IPO price to cover any over-allotments.
The offering is expected to close March 8.
Atlantic Coastal plans to focus on the next-gen mobility sector. Read more.
