TradeUP Global priced its IPO of 4 million units at $10 each.
Units begin trading today on the Nasdaq under TUGCU. Each consists of one Class A ordinary share and one-half of one redeemable warrant, with each whole warrant exercisable at $11.50.
After the securities comprising the units begin separate trading, shares and warrants are expected to be listed under TUGC, and TUGCW, respectively.
The SPAC has granted the underwriters a 45-day option to purchase up to an additional 600,000 units at the IPO price to cover any over-allotments.
The offering is expected to close May 3.
TradeUP Global will target financially sound but underperforming companies. Read more.
