Feutune Light Acquisition priced its initial public offering of 8.5 million units at $10 each. The units begin trading today on the Nasdaq under the symbol FLFVU. Each consists of one share, a warrant and one right to receive one-tenth of a share.
Once the securities begin separate trading, stock, warrants and rights are expected to be listed under the symbols FLFV, FLFVW and FLFVR, respectively.
The offering is expected to close June 21.
The SPAC has granted the underwriters a 45-day option to purchase up to 1.275 million additional units at the IPO price to cover any over-allotments.
US Tiger Securities and EF Hutton are joint book-running managers in the offering. Craig-Hallum Capital Group is the independent underwriter.
Feutune in its initial S-1 filing said it would target an acquisition with strong growth potential and a competitive edge, though excluding any business in China, Hong Kong or Macau. Read more.
