TB SA Acquisition priced its IPO of 20 million units at $10 each. The SPAC offered 5 million fewer units than initially registered with the SEC last month.
The SPAC intends to identify a potential initial business combination target with a focus on African companies that promote Environmental, Social and Governance (“ESG”) principles.
Units begin trading today on the Nasdaq under TBSAU. Each consists of one Class A ordinary share and one-third of one redeemable warrant; whole warrants exercisable at $11.50. Once the securities comprising the units begin separate trading, shares and warrants are expected to list under TBSA and TBSAW, respectively.
The offering is expected to close March 25. Read more.
