Cannabis-focused Clover Leaf Capital priced its IPO of 12.5 million units at $10 each.
Units are expected to begin trading today on the Nasdaq under CLOEU. Each consists of one share of Class A common stock and one right to receive one-eighth of one share upon the consummation of an initial business combination. Once the securities comprising the units begin separate trading, shares and rights are expected to trade under CLOE and CLOER.
C;lover Leaf is led by President, CEO and Chairman Felipe MacLean, a founder and CEO of Yntegra Group
Maxim is sole book-running manager for the offering.
The underwriters have an option to purchase up to 1.875 million additional units to cover over-allotments, if any.
The offering is expected to close July 22. Read more.
