Chavant Capital Acquisition closed its IPO of 8 million units at $10 each.
The units trade on the Nasdaq under CLAYU. Each consists of one ordinary share and three-quarters of a redeemable warrant, with whole warrants exercisable at $11.50. After the securities comprising the units begin separate trading, shares and warrants will list under CLAY and CLAYW.
Chavant Capital intends to focus its search on companies in the advanced manufacturing and advanced materials technology sectors.
Roth Capital Partners and Craig-Hallum Capital Group were joint book-running managers for the offering. The underwriters have an option to purchase up to an additional 1,2 million units to cover over-allotments, if any. Read more.
