Trine II Acquisition priced 36 million units in its IPO at $10 each. Units start trading today on the NYSE under TRAQ.U. Each consists of one Class A ordinary share and one-half of a warrant.
Trine II initially registered to offer 42.5 million units in February before scaling back to 30 million and ultimately pricing 36 million units.
When the securities begin trading separately, shares and warrants are expected to list under TRAQ and TRAQ.WS.
Trine II plans to target the TMT sectors — technology, media, and telecom.
Morgan Stanley is sole book-running manager for the offering. The underwriter has an option to purchase up to 5.4 million additional units to cover over-allotments, if any.
The offering is expected to close Nov. 5. Read more.
