Tristar Acquisition I priced its IPO of 20 million units at $10 each.
Units list on the NYSE and begin trading today under TRIS.U. Each consists of one share and one-half of a warrant. Once the securities begin separate trading, stock and warrants will list under TRIS and TRIS.WS.
The SPAC intends to focus on companies related to telecommunications, technology, or related businesses. Navigation Capital Partners is a member of the company’s sponsor group. Additionally, Cable One will be a strategic investor, and has agreed to purchase 9.9% of the units in the offering, subject to allocation by the underwriters.
Wells Fargo is sole book-running manager and Loop Capital Markets is co-manager. The underwriters’ over-allotment option covers the purchase of up to 3 million additional units. Read more.
