Blue Safari Group priced its IPO of 5 million units at $10 each.
Units begin trading today on the Nasdaq under BSGAU. Each consists of one Class A ordinary share, and one right to receive one-tenth of one Class A ordinary share upon the completion of a business combination. Once the securities comprising the units begin separate trading, shares and rights are expected to list under BSGA and BSGAR, respectively.
Maxim is sole book running manager in the offering.
The company has granted the underwriters a 45-day option to purchase up to an additional 750,000 units to cover any over-allotments.
The offering is expected to close June 14.
Blue Safari Group is targeting companies that are in the FinTech, InfoTech, InsurTech and business services.
The new SPAC is led by Chairman Alan Yamashita, who since 2013 has been managing partner at Polar Ventures. Read more.
