CIIG Capital Partners II priced its upsized IPO of 25 million units at $10 each. The SPAC offered 2.5 million units more than expected in July, when it amended its registration to offer 22.5 million units, down from the 30 million units initially registered with the SEC in March
CIIG II intends to focus its search on companies in technology, media, telecommunications and sustainability industries.
Units begin trading today on the Nasdaq under CIIGU. Each consists of one share and one-half of one redeemable warrant. Once the securities begin separate trading, shares and warrants are expected to list under CIIG and CIIGW.
The offering is expected to close Sept. 17.
UBS, Barclays and LionTree are joint book-running managers for the offering. CIIG has granted the underwriters an option to purchase up to an additional 3.75 million units to cover over-allotments, if any. Read more.
