EG Acquisition today priced its IPO of 22.5 million units at $10 each, down from the 25 million units the SPAC initially registered last month.
Units begin trading today on the NYSE under EGGFU. Each consists of one share of Class A common stock and one-third of a redeemable warrant; whole warrants exercisable at $11.50. After the securities comprising the units begin separate trading, shares and warrants will list under EGGF and EGGFW, respectively.
The offering is expected to close May 28.
The SPAC will likely target transportation and real assets, financial services, financial services technology, healthcare, real estate, and sustainability-focused businesses.
BTIG is sole book-running manager for the offering. The underwriters have a 45-day option to purchase up to an additional 3.375 million units to cover any over-allotments. Read more.
