Prime Number Acquisition I closed its initial public offering of 6.45 million units at $10 each, including 450,000 units issued under the partial exercise of the underwriter’s over-allotment option.
Each unit consists of one share, one-half of a warrant, and one right. Eight rights are good for one share. The exercise price of the warrants is $11.50 per full share. The units trade on the Nasdaq under the ticker symbol PNACU. Once the securities begin trading separately, stock, warrants and rights are expected to list under the symbols PNAC, PNACW and PNACR, respectively.
Prime Number Capital and WestPark Capital were joint book-running managers for the offering.
The new SPAC led by CEO and Chairman Dongfeng Wang will focus on the fintech sector, excluding companies in China, Hong Kong and Macau. Read more.
