Special purpose acquisition company SHUAA Partners Acquisition Corp I (Nasdaq: SHUAU) started trading its securities on the Nasdaq Global Market on Wednesday. The firm priced its initial public offering, aiming to raise total proceeds of US$100.0 million.
The offering will entail selling 10.0 million units priced at US$10.00 per unit. Each unit is composed of one Class A common share and one-half of a redeemable warrant. Each whole warrant is exercisable to purchase one common share at US$11.50 per share.
The company units trade on the Nasdaq big board under the symbol “SHUAU”. Once the securities separate, the company shares and warrants will trade under the ticker symbols “SHUA” and “SHUAW”, respectively.
The proposed offering is being managed by BTIG as the sole bookrunner. The underwriters were granted a 45-day over-allotment option to purchase additional 1.5 million company units.
The blank check company intends to focus its search for business combinations within the technology or tech-enabled financial services sectors, across the Middle East, North Africa, and Turkey region, collectively known as MENAT.
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.