Compass Digital Acquisition priced its IPO of 20 million units at $10 each.
Units begin trading today on the Nasdaq under CDAQU. Each consists of one Class A ordinary share and one-third of a warrant. When the securities begin trading separately, shares and warrants are expected to list under CDAQ and CDAQW.
The company intends to concentrate on businesses in the technology sector, including in the technology-led digital transformation software and services sector. This includes technology-first IT and digital transformation software or services providers that have a significant share of their customer base in developed markets.
Citigroup and J.P. Morgan are joint book-running managers of the offering. Ladenburg Thalmann is co-manager. The underwriters have an option to purchase up to an additional 3 million units to cover over-allotments, if any. Read more.
