Aurora Acquisition priced its IPO of 22 million units at $10 per unit.
Units begin trading today on the Nasdaq under AURCU. Each consists of one Class A ordinary share and one-fourth of a redeemable warrant, with each whole warrant exercisable to purchase a Class A ordinary share at $11.50. Once the securities comprising the units begin separate trading, shares and warrants are expected to list under AURC and AURCW, respectively.
Additionally, the SPAC closed a private placement with its sponsor, Novator Capital Sponsor Ltd. and certain executive officers and directors of approximately 4.3 million private placement warrants, each exercisable to purchase one Class A ordinary share at $11.50, at a price of $1.50 per warrant. This generated gross proceeds of $6.4 million. The sponsor and certain executive officers and directors of the Company also purchased 3.5 million units in a private placement concurrently with the offering, at $10.00 per unit, for an aggregate purchase price of $35 million.
The SPAC intends to focus its search for a target with operations or prospects in the Europe, Middle East and Africa Technology and Media industry, including data analytics, enterprise software, security software, e-commerce and online marketplaces, and/or financial services technology.
The offering is expected to close March 8. Read more.
