Special purpose acquisition company Ahren Acquisition Corp. (Nasdaq: AHRNU) started trading publicly on the Nasdaq Global Market today. The company is seeking to raise US$275 million in its initial public offering.
The offering consists of 27.5 million company units, up from the previous 25.0 million, priced at US$10.00 per unit. Each unit is composed of one Class A share and one-half of a purchase warrant. Each whole warrant is redeemable for one Class A common share at US$11.50 per share.
The company units trade on the Nasdaq big board under the symbol “AHRNU”. Once the securities separate, the company shares and warrants will trade under the ticker symbols “AHRN” and “AHRNW”, respectively.
Sponsored · Selkirk Copper Mines
The proposed offering is being managed by Citigroup Global Markets as the sole bookrunner. The underwriters were granted a 45-day over-allotment option to purchase additional 4.125 million company units at the same IPO price.
The blank check company is backed by deep technology-focused investment fund Ahren LP, whose founder and general partner Alice Newcombe-Ellis serves as the SPAC’s acting CEO. On its target business combination, the firm plans to pursue firms within Ahren’s four domains of interest: planet & efficient energy, brain & artificial intelligence, genetics & platform technologies, and space, robotics & physics.
While it has not specified its geographic target, the firm said that enterprise valuations in Europe and the UK “are in many cases currently attractive relative to other global locations.”
Information for this briefing was found via Edgar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
