PROOF Acquisition I priced its upsized IPO of 24 million units at $10 each, an increease of 4 million more units than expected.
Units begin trading today on the NYSE under PACI.U. Each consists of one share and one-half of a warrant. When the securities begin separate trading, shares and warrants are expected to list under PACI and PACI.WS.
Management cited expertise in enterprise software, health care, financial technology and consumer sectors, although the SPAC said it would not limit its search to any particular sector.
The offering is expected to close Dec. 3.
BofA Securities is acting as the sole book-running manager for the offering. Read more.
