Metal Sky Star Acquisition priced its initial public offering of 10 million units at $10 per unit.
The units are expected to be listed on the Nasdaq and start trading today under the ticker symbol MSSAU. Each consists of one ordinary share, one right to receive one-tenth of a share and one warrant exercisable at $11.50.
Once the securities begin separate trading, shares, rights, and warrants are expected to list under the symbols MSSA, MSSAR and MSSAW, respectively.
Ladenburg Thalmann is sole bookrunner for the offering, which is expected to close April 5.
The SPAC’s sponsor, M-Star Management, has agreed to purchase 300,000 units in a private placement at the offering price (or up to $3.3 million if the over-allotment option is exercised in full).
The new SPAC in its October 2021 registration filing said it will concentrate on companies that have a connection to the Asian market. Read more.
