Digital World Acquisition priced its IPO of 25 million units at $10 each, down from the 30 million units it planned to sell in an upsized offering in July. That was a jump from the 10 million units the SPAC initially registered in May.
The units are expected to begin trading today under DWACU. Each consists of one share and one half of one redeemable warrant; whole warrants exercisable at $11.50 per share. When the securities begin separate trading, shares and warrants are expected to list under DWAC and DWACW.
Digital World intends to focus on middle market and emerging growth technology-focused companies in the Americas, in SaaS and Technology or Fintech and Financial Services.
EF Hutton is sole book-running manager for the offering. The underwriter has an option to purchase up to an additional 3.75 million units to cover over-allotments, if any. Read more.
