FTAC Hera Acquisition priced its upsized IPO of 80 million units at $10 per unit. The SZPAC offered 5 million more units than expected.
Units begin trading today on the Nasdaq under HERAU. Each consists of one Class A ordinary share and one-fourth of a warrant, each whole warrant exercisable for one Class A ordinary share at $11.50. Once the securities comprising the units begin separate trading, shares and warrants are expected to list list under HERA and HERAW, respectively.
The closing of the offering is expected March 8.
Citigroup Global Markets and J.P. Morgan Securities are joint book-runners for the offering. FTAC Hera has granted the underwriters a 45-day option to purchase up to an additional 12 million units at the IPO price to cover any over-allotments.
FTAC Hera plans to target technology and financial services technology, or fintech, companies that power transformation and innovation. Read more.
