Newbury Street Acquisition closed its IPO of 12 million units at $10 each.
Units trade on the Nasdaq under NBSTU. Each consists of one share of common stock and one-half of one redeemable warrant, each whole warrant entitling the holder to purchase a share at $11.50. Once the securities comprising the units begin separate trading, shares and warrants are expected to list under NBST and NBSTW, respectively.
Newbury Street intends to search for a technology business in the consumer internet or media space, including sports and entertainment verticals, with enterprise values of approximately $500 million to $2.5 billion. Read more.
