Stratim Cloud Acquisition priced its IPO of 25 million units at $10 each.
Units start trading today on the Nasdaq under SCAQU. Each consists of one share of Class A common stock and one-third of one redeemable warrant. Each whole warrant is exercisable to purchase one share of Class A common stock at $11.50. Once the securities comprising the units begin separate trading, shares and redeemable warrants are expected to list under SCAQ and SCAQW, respectively.
The new SPAC will target companies involved in cloud infrastructure software; software as a service (SaaS) consumer and enterprise applications; and security software. Read more.
