DUET Acquisition closed its initial public offering of 7.5 million units at $10 per unit. Each unit consists of one share and a warrant.
The underwriters exercised their over-allotment option in full for an additional 1.125 million units at the time of the closing of the offering, which raised aggregate gross proceeds of $86.25 million.
The company’s units trade on the Nasdaq under the ticker symbol DUETU. Once the securities begin separate trading, shares and warrants are expected to be listed under the ticker symbols DUET and DUETW.
The SPAC intends to focus on disruptive change-maker technology enterprises that are capitalizing on the digital shift. These “enabling technology companies” range from holistic e-commerce, fintech and big data analytics to robotic process automation.
EF Hutton was sole book-running manager for the offering. Read more.
