Aries I Acquisition priced its IPO of 12.5 million units at $10 each.
Units begin trading today on the Nasdaq under RAMMU. Each unit consists of one Class A ordinary share of the company and one-half of one redeemable warrant. Whole warrants would be exercisable at $11.50 for a share.
After the securities comprising the units begin separate trading, shares and warrants are expected to list under RAM and RAMMW, respectively.
The offering is expected to close May 21.
The SPAC last week in an amended S-1 cut the offering nearly 29 percent from the 17.5 million units registered in March.
Aries 1 plans to look for opportunities “in certain highly specialized fields within the technology sector across North America, Europe and Asia.”
The SPAC is led by Chairman Thane Ritchie, who is is CEO and a board member of Global Investment Capital. Read more.
