Yotta Acquisition said the underwriters in its initial public offering fully exercised their over-allotment option and purchased 1.5 million units at the IPO price, generating additional gross proceeds of $15 million. The SPAC’s IPO raised $100 million earlier this month.
The new SPAC plans to target high technology, blockchain, software and hardware, ecommerce, social media and other general business industries globally.
Each Yotta unit consists of one share, a warrant and one right to receive one-tenth of a share upon the closing of an initial business combination.
The units trade on the Nasdaq under the ticker symbol YOTAU. After the securities begin separate trading, shares, warrants and rights are expected to be listed under the symbols YOTA, YOTAW and YOTAR, respectively. Read more.
