Gesher I Acquisition priced its IPO of 10 million units at $10 each. Units list on the Nasdaq and begin trading today under GIACU. Each consists of one ordinary share and one-half of a warrant.
Once the securities begin separate trading, shares and warrants are expected to list under GIAC and GIACW.
The company also entered into forward purchase agreements to sell up to an additional 4.5 million units at the IPO price in a private placement to coincide with the closing of an initial business combination.
Sponsored by principals at Varana Capital, High House Investments and Newtyn Management, Gesher I intends to initially focus on target businesses in Israel, particularly those conducting business internationally in Asia, Europe or North America.
EarlyBirdCapital is sole book-running manager for the offering. I-Bankers Securities, Inc. and Ingalls & Snyder are co-managers. The underwriters have an option to purchase up to an additional 1.5 million units to cover over-allotments, if any. Read more.
