WinVest Acquisition closed its IPO of 10 million units priced at $10 each. A unit consists of one share, one right and one redeemable warrant. Each right entitles the holder to receive one-fifteenth of one share upon the closing of a merger. Two warrants are redeemable at $11.50 for one share.
Once the securities begin separate trading, the stock, rights and warrants are expected to list on the Nasdaq under WINV, WINVR and WINVW.
Chardan was sole book-running manager in the offering. The underwriters have an option to purchase up to an additional 1.5 million units to cover any over-allotments.
WinVest plans to target businesses in the financial services industry, with a particular focus on financial media, brokerage, banking, investing, and wealth management. Read more.
