Monterey Capital Acquisition Prices Downsized $80M IPO

IPO

Monterey Capital Acquisition priced its initial public offering of 8 million units at $10 each, a 20% downsize from the 10 million units initally registered with the SEC last month.

Units list on the Nasdaq and begin trading today under the ticker symbol MCACU. Each consists of one share, a warrant and one right to receive one-tenth of a share. Once the securities begin separate trading, shares, warrants and rights are expected to be listed on Nasdaq under the symbols MCAC. MCACW and MCACR.

The new SPAC will target businesses engaged in clean-energy transition with enterprise values of approximately $250 million to $1 billion — excluding companies in China, Hong Kong and Macau. 

EF Hutton is the sole book-running manager for the offering.

The offering is expected to close May 13. Read more.

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