A SPAC I Acquisition priced its initial public offering of 6 million units at $10 each. The units list on the Nasdaq and begin trading today under the ticker symbol ASCA. Each consists of one Class A ordinary share, three-fourths of a redeemable warrant, and one right to receive one-tenth of a share upon the completion of a merger.
The new SPAC will target the technology and e-commerce industries with a focus in Asia and on companies with an enterprise value of between $250 million and $600 million, excluding any company in China.
Once the securities begin separate trading, shares, warrants and rights are expected to list under the symbols ASCA, ASCAW and ASCAR, respectively.
Chardan is sole book-running manager in the offering. Read more.
