Shelter Acquisition Corporation I priced its IPO of 20 million units at $10 each.
Units begin trading today on the Nasdaq under SHQAU. Each consists of one share of Class A common stock and one-half of one redeemable warrant. Whole warrants will be exercisable at $11.50 per share. Once the securities comprising the units begin separate trading, shares and warrants are expected to list under SHQA and SHQAW.
The SPAC intends to target businesses that provide technologically innovative solutions to the real estate industry.
Citigroup and Wells Fargo Securities are joint book-running managers for the offering. The underwriters have a 45-day option to purchase up to an additional 3 million units at the IPO price to cover over-allotments, if any. Read more.
