Special purpose acquisition company GSR II Meteora Acquisition Corp (Nasdaq: GSRMU) 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, an upsize from the previous 22.0 million units, priced at US$10.00 per unit. Each unit is composed of one Class A common share, one purchase warrant, and one-sixteenth of a right. Each warrant is redeemable for one Class A common share at US$11.50 per share while each whole right equates to a common share upon business combination.
The company units trade on the Nasdaq big board under the symbol “GSRMU”. Once the securities separate, the company shares, warrants, and rights will trade under the ticker symbols “GSRM”, “GSRMW”, and “GSRMR”, respectively.
Sponsored · Silver47 Exploration Inc.
The proposed offering is being managed by Oppenheimer & Co. Inc. 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 offering is expected to close on March 1, 2022, subject to customary closing conditions.
The blank check company was said to have been formed in partnership with SPAC-focused investment advisor Meteora Capital. The firm said it intends to search for businesses providing “software, technology-enabled manufacturing and services, mobility and transportation sectors, as well as companies that help to address evolving environmental, social, and governance-related issues.”
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.
