McLaren Technology Acquisition priced its IPO of 17.5 million units at $10 each.
The SPAC intends to focus on companies within the banking, financial services and insurance sector that leverage artificial intelligence, machine learning, digital, technology, and fintech.
Units begin trading today on the Nasdaq under MLAIU. Each consists of one share and one-half of a warrant. Once the securities begin trading separately, shares and warrants will list under MLAI and MLAIW.
Mizuho Securities USA is sole book-running manager for the offering. The underwriters may opt to purchase up to an additional 2.625 million units to cover any over-allotments. Read more.
