Gladstone Acquisition priced its IPO of 10 million units at $10 each. Units begin trading today on the Nasdaq under GLEEU.
Each consists of one share of stock and one-half of one redeemable warrant, with each whole warrant exercisable for a share at $11.50. Once the securities begin separate trading, stock and warrants are expected to list under GLEE and GLEEW.
The SPAC intends to focus its search on the farming and agricultural sectors, including farming related operations and businesses that support the farming industry, where its management team has extensive experience.
EF Hutton is sole book-running manager. The underwriters have an over-allotment option to purchase up to an additional 1.5 million units.
The offering is expected to close Aug. 9. Read more.
