Nocturne Acquisition priced its IPO of 10 million units at $10 each. Units begin trading today on the Nasdaq under MBTCU.
Each unit consists of one ordinary share and one right. A right entitles the holder to receive 1/10th of one ordinary share upon the consummation of an initial business combination. After the securities comprising the units begin separate trading, shares and rights are expected to list under MBTC and MBTCR, respectively.
The SPAC intends to focus its search on targets bringing to market disruptive technologies in the blockchain/crypto and artificial intelligence technology sectors. Equity value of potential targets is expected to be in the $300 million to $1 billion range. Read more.
