PHP Ventures Acquisition priced its IPO 5 million units at $10 each.
Units begin trading today under PPHPU. Each consists of one share of Class A common stock; one half of one redeemable warrant and one right to acquire one-tenth of one share. Each warrant is exercisable at $11.50.
Once the securities begin separate trading, shares, rights and warrants are expected to list under PPHP, PPHPR and PPHPW. respectively.
The new SPAC intends to focus on consumer-facing companies with a significant Africa presence or a compelling Africa potential. Read more.