HHG Capital priced its IPO of 5 million units at $10 each. A unit consists of one share, one redeemable warrant and one right. Each redeemable warrant entitles the holder to purchase three-fourths of a share at a price of $11.50 per full share, and each ten rights are redeemable for a share at the close of a merger.
Units begin trading today on the Nasdaq under HHGCU.
The offering is expected to close Sept. 23. Once the securities begin separate trading, shares, warrants and rights are expected to list under HHGC, “HHGCW and HHGCR, respectively.
EF Hutton and Brookline Capital Markets are joint book-running managers for the IPO. The underwriters have an option to purchase up to 750,000 additional units at the IPO price to cover over-allotments, if any.
The SPAC has not publicly identified specific sectors it may target for an acquisition, but has excluded targets in China. HHG is based in Singapore. Read more.
