TradeUp Acquisition priced its IPO of 4 million units at $10 each. Units begin trading today on the Nasdaq under UPTDU. Each consists of one share of common stock and half of one redeemable warrant, with whole warrants exercisable at $11.50 per share. After the securities comprising the units begin separate trading, stock and warrants are expected to list under UPTD and UPTDW.
The underwriters have a 45-day over-allotment option to purchase up to an additional 600,000 units at the IPO price.
TradeUp is focused on the technology sector, specifically automation, digitalization, energy efficiency and artificial intelligence.
The offering is expected to close July 19. Read more.