DWAC CEO-Advised Telco SPAC Nubia Brand International Prices US$110 Million IPO

Special purpose acquisition company Nubia Brand International Corp. (Nasdaq: NUBIU) started trading its securities on the Nasdaq Global Market today. The firm priced its initial public offering, aiming to raise total proceeds of US$110.0 million.

The offering will entail selling 11.0 million units, upsized from 10.0 million units, priced at US$10.00 per unit. Each unit is composed of one Class A common share and one whole warrant exercisable to purchase one common share at US$11.50 per share.

The company units trade on the Nasdaq big board under the symbol “NUBIU”. Once the securities separate, the company shares and warrants will trade under the ticker symbols “NUBI” and “NUBIW”, respectively.

The proposed offering is being managed by EF Hutton as the sole bookrunner. The underwriters were granted a 45-day over-allotment option to purchase additional 1.65 million company units.

The offering is expected to close on March 15, 2022, subject to customary closing conditions.

Digital World Acquisition (Nasdaq: DWAC) CEO Patrick Orlando serves on the blank check firm’s advisory board. The SPAC is backed by telco firm Mach FM, whose top honcho Jaymes Winters also serves as the firm’s CEO.

The company said it intends to focus its search for business combinations among wireless telecommunications companies.


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.

Leave a Reply

Video Articles

Endeavour Mining Q1 Earnings: Cash Flow Is King

G Mining Oko West Feasibility: Move Fast, Break.. Nothing?

New Gold Q1 Earnings: What’s Behind The Market’s Surprising Reaction?

Recommended

First Majestic Posts Record Cash Flows In Q1 As Production Costs Fall

Brazil Potash Secures Funding In Support Of US$2.5 Billion Autozales Project

Related News

Insurance Firm Ryan Specialty Group Looks To Raise US$1.3 Billion In IPO

Insurance provider Ryan Specialty Group Holdings priced its initial public offering as the company starts...

Thursday, July 22, 2021, 10:27:00 AM

Air Sanitation Manufacturer AeroClean Technologies Prices US$25 Million IPO

Pathogen elimination technology company AeroClean Technologies, Inc. (Nasdaq: AERC) started publicly trading on the Nasdaq...

Wednesday, November 24, 2021, 02:19:00 PM

Robinhood Creating Platform to Allow Amateur Investors to Buy IPOs, Including its Own

While still brushing off daytrader anguish and congressional scrutiny after its decision to pause trading...

Saturday, March 27, 2021, 11:21:00 AM

Financial SPAC Cascade Acquisition Looks At Liquidation After Failing To Achieve Business Combination

Special purpose acquisition company Cascade Acquisition Corp. (NYSE: CAS) announced its intention to dissolve and...

Thursday, May 19, 2022, 02:23:00 PM

VerticalScope Issues 5.7 Million Shares, Raises $125.1 Million In Initial Public Offering

Toronto-based tech firm VerticalScope Holdings Inc. (TSX: FORA) closed its initial public offering today, raising...

Monday, June 21, 2021, 10:55:00 AM