Abri SPAC I priced its IPO of 5 million units at $10 each. Units begin trading today on the Nasdaq under ASPAU. Each consists of one share of common stock and one redeemable warrant to purchase one share at $11.50.
After the securities begin separate trading, shares and warrants are expected to list under ASPA and ASPAW.
The offering is expected to close Aug. 12.
Chardan is sole book-running manager. The underwriters have an over-allotment option to purchase up to an additional 750,000 units.
The new SPAC said it will target companies that power transformation and provide disruptive technological innovation in a range of traditionally managed industries with particular emphasis on FinTech. Read more.
