EJF Acquisition today announced its IPO of 25 million units at $10 each. The SPAC has applied for a Nasdaq listing under EJFAU. Each unit will consist of one Class A ordinary share and one-third of one redeemable warrant, with each whole warrant exercisable to purchase one ordinary share at $11.50. Once the securities comprising the units begin separate trading, shares and warrants will list list on the Nasdaq under EJFA and EJFAW, respectively.
The SPAC is led by Chairman and co-founder Emanuel Friedman. Prior to forming EJF, Friedman was a founder, co-chairman and co-CEO of FBR, where he assisted in designing property and mortgage REIT vehicles.
EJF will target financial services companies with an equity value of at least $1 billion. Read more.
