Skydeck Acquisition priced its IPO of 20 million units at $10 each, down 20 percent from the 25 million units registered in March.
Units begin trading today on the Nasdaq under SKYAU. Each consists of one Class A ordinary share and one-third of one redeemable warrant. Whole warrants would be exercisable for a share at $11.50.
Once the securities comprising the units begin separate trading, shares and warrants are expected to list under SKYA and SKYAW, respectively.
The new SPAC expects to focus on media, technology, communications and digital health companies in the United States and other regions.
J.P. Morgan and Morgan Stanley are book-running managers for the offering. The underwriters have 45-day option to purchase up to an additional 3 million units at the IPO price to cover any over-allotments. Read more.
