Twin Ridge Capital Acquisition priced its IPO of 20 million units at $10 each.
Units begin trading today on the NYSE under TRCA.U. Each consists of one Class A ordinary share and one-third of one redeemable warrant. Whole warrants are exercisable for one Class A ordinary share at a price of $11.50. Once the securities comprising the units begin separate trading, shares and redeemable warrants will list under TRCA and TRCA WS, respectively.
The SPAC plans to pursue opportunities in the consumer and distribution related and adjacent industries.
Barclays and Evercore are joint book-running managers. The SPAC has granted the underwriters a 45-day option to purchase up to an additional 3 milion units at the IPO price to cover any over-allotments.
The offering is expected to close March 8. Read more.
