Black Spade Acquisition priced its IPO of 15 million units at $10 each. Units begin trading today on the NYSE under BSAQU. Each consists of one Class A ordinary share and one-half of one redeemable warrant. Whole warrants will be exercisable at $11.50.
Once the securities begin separate trading, shares and warrants will listed under BSAQ and BSAQWS.
The SPAC is targeting the entertainment industry, with a focus on enabling technology, lifestyle brands, products, or services and entertainment media, primarily in Asia.
Citigroup is sole bookrunner for the offering. JonesTrading Institutional Services and Loop Capital Markets are co-managers. The underwriters have an over-allotment option to purchase up to 2.25 million additional units. Read more.
