Prime Number Acquisition I priced its initial public offering of 6 million units at $10 per unit, with each unit consisting of one share, one-half of a warrant and one right.
Whole warrants will be redeemable at $11.50 for a share and each right is good for one-eighth of a share upon completion of a merger.
The units begin trading today on the Nasdaq under the ticker symbol PNACU. Once the securities begin separate trading, stock, warrants and rights will list under the symbols PNAC, PNACW, PNACR, respectively.
The new SPAC has said it will focus on the fintech sector, excluding companies in China, Hong Kong and Macau.
The offering is expected to close May 17.
Prime Number Capital and WestPark Capital are the representatives of the underwriters for the offering. Read more.
