Rosecliff Acquisition I priced its IPO of 22 million units at $10.00 per unit. The upsize represents a 10 percent increase from the 20 million units the SPAC initially planned to offer.
Units start trading today on the Nasdaq under RCLFU. Each consists of one share of Class A common stock and one-third of one redeemable warrant. Each whole warrant entitles the holder to purchase a share of Class A common stock at a price of $11.50. Once the securities comprising the units begin separate trading, shares and redeemable warrants are expected to list under RCLF and RCLFW, respectively.
The offering is expected to close Feb. 17.
The SPAC plans to pursue “high growth technology and tech-enabled businesses domestically in industries that are being disrupted by advances in technology and on technology paradigms.” Read more.
