Sierra Lake Acquisition priced its IPO of 30 million units at $10 each. Units begin trading today on the Nasdaq under SIERU.
Each unit consists of one share and one-half of one warrant.
Once the securities begin separate trading, shares and warrants are expected to list under SIER and SIERW.
The SPAC will target acquisitions across a range of potential sectors, including healthcare services, food and beverage, consumer products, industrial services, business services, real estate, professional services, homebuilding and medical and solid waste disposal (an industry the SPAC cannot pursue until executive team members’ non-competes expire).
The offering is expected to close Sept. 17.
Cantor Fitzgerald is sole book-running manager of the offering. The underwriters have an option to purchase up to an additional 4.5 million units to cover any over-allotments.
