Banyan Acquisition priced its upsized initial public offering of 21 million units at $10 each, an increase of 1 million more units than the SPAC announced last month when it downsized from an initial SEC registration of 30 million units.
The units begin tradsing today on the New York Stock Exchange under the ticker symbol BYN.U. Each consists of one share and one-half of a warrant. When the securities begin separate trading, stock and warrants are expected to list under BYN and BYN.WS.
The offering is expected to close Jan. 24.
Banyan intends to focus its search on businesses within the foodservice industry.
BTIG is sole bookrunner for the offering. I-Bankers Securities is co-manager. Read more.
