Pacifico Acquisition priced its IPO of 5 million units at $10 each. Units begin trading today on the Nasdaq under PAFOU. Each consists of one share and one right to receive one-tenth of a share on closing of a business combination.
Once the securities begin separate trading stock and rights will list under PAFO and PAFOR.
Chardan is sole book-running manager in the offering. The underwriters have an option to purchase up to an additional 750,000 units to cover over-allotments, if any.
The offering is expected to close Sept. 16.
Pacifico intends to focus on the new energy, biotech, and education industries in Asia, excluding China. Read more.