Cascadia Acquisition priced its IPO of 15 million units at $10 each.
Units begin trading today on the Nasdaq under CCAI.U. Each consists of one share and one-half of one warrant; whole warrants exercisable at $11.50.
Once the securities begin separate trading, shares and warrants are expected to list under CCAI” and CCAI.W.
The offering is expected to close Aug. 30.
Cantor Fitzgerald is sole book-running manager of the offering. The underwriter has an option to purchase up to an additional 2.25 million units to cover over-allotments, if any.
The tech-focused SPAC will concentrtate on companies engaged in robotics, automation and artificial intelligence (RAAI). Read more.