Chavant Capital Acquisition priced its IPO of 8 million units at $10 each, down from the 10 million units the new SPAc initially registered with the SEC in June.
Units begin listring today on the Nasdaq under CLAYU. Each consists of one ordinary share and three-quarters of one redeemable warrant, with whole warrants exercisable at $11.50 per share.
After the securities comprising the units begin separate trading, shares and warrants are expected to list under CLAY and CLAYW, respectively.
The offering is expected to close July 22.
The SPAC intends to target companies in the advanced manufacturing and advanced materials technology sectors.
Roth Capital Partners and Craig-Hallum Capital Group are joint book-running managers for the offering. The underwriters have an over-allotment option to purchase up to an additional 1.2 million units. Read more.
