Mercury Ecommerce Acquisition priced its IPO of 17.5 million units at $10 each. Units begin trading on the Nasdaq today under MEACU.
Each consists of one share and one-half of one redeemable warrant; whole warrants exercisable at $11.50 for a share.
Once the securities begin separate trading, shares and warrants are expected to list under MEAC and MEACW.
The offering is expected to close July 30.
Mercury Ecommerce intends to focus its search for a target business or businesses in the e-commerce technology and tech-enabled services industry in North America.
Needham & Company is sole book-running manager for the offering. The underwriter has a 45-day option to purchase up to an additional 2.625 million units to cover over-allotments, if any. Read more.
