Investcorp India Acquisition priced its initial public offering of 22.5 million units at $10 each. The units list on the Nasdaq and begin trading today under the ticker symbol IVCAU.
Each unit consists of one Class A ordinary share and one-half of one redeemable warrant of the Company. Each whole warrant entitles the holder to purchase one Class A ordinary share at a price of $11.50 per share. Once the securities comprising the units begin separate trading, the shares and warrants are expected to be traded on NASDAQ under the symbols “IVCA” and “IVCAW,” respectively.
The SPAC intends to focus its search for a target located in India in industries that have a high-potential for growth and for generating strong returns.
Credit Suisse is sole book-running manager for the offering.
The offering is expected to close May 12. Read more.
