Oxbridge Acquisition priced its IPO of 10 million units at $10 each.
A unit consists of one Class A ordinary share and one redeemable warrant. Each warrant is exercisable for a share at $11.50. The units are expected to begin trading today on the Nasdaq under OXACU. Once the securities begin separate trading, shares and warrants are expected to list under OXAC and OXACW.
Maxim Group is sole book-running manager for the offering. The underwriters have an option to purchase up to 1,5 additional units to cover over-allotments, if any. The offering is expected to close Aug. 16.
The new SPAC will concentrate on disruptive Insurtech companies. Read more.
