Broad Capital Acquisition priced its initial public offering of 10 million units at $10 each. The units are expected to be listed on the Nasdaq and trade under the ticker symbol “BRACU” beginning today. Each consists of one share of common stock and one right to receive one-tenth of a share. Once the securities begin separate trading, the common stock and rights are expected to be listed under the symbols “BRAC,” and “BRACR,” respectively.
The new SPAC plans to target tech companies engaged in AI, machine learning, electric and hybrid propulsion, advanced materials and manufacturing technologies, control systems, advanced telecommunications, autonomous flight operations, networked satellite systems as well as other evolving technologies.
The offering is expected to close Jan. 13.
Chardan is sole book running manager of the offering. Read more.
