Colonnade Acquisition II priced its IPO of 30 million units at $10 each.
Units begin trading today on the NYSE under CLAA.U. Each consists of one Class A ordinary share and one-fifth of one redeemable warrant, with whole warrants exercisable to purchase a share at $11.50. After the securities comprising the units begin separate trading, shares and warrants will list under CLAA and CLAA WS, respectively.
The offering is expected to close March 12.
Targeting companies with “favorable growth prospects,” the SPAC is led by Chairman Joseph Sambuco, who is also chairman and CEO of Colonnade Properties, which he founded along with Prudential Financial in 2000. Read more.
