Chavant Capital Acquisition registered today with the SEC to offer 10 million units at $10 each. A unit consists of one ordinary share and three-quarters of a redeemable warrant, with whole warrants exercisable for a share at $11.50.
The new SPAC intends to target a prospective business in the advanced manufacturing and advanced materials technology sectors, with enterprise values of $600 million or more.
Chavant is led by CEO amd President Dr. Jiong Ma , who is a venture partner at VC firm Braemar Energy Ventures.
Roth Capital Partners and Craig-Hallum are joint book-running managers of the offering. The underwriters have a 45-day option to purchase up to 1.5 million additional units to cover any over-allotments.
The SPAC intends to apply for a listing on the Nasdaq under CLAYU. Read more.
