Internet SPAC DP Cap Acquisition Prices US$200 Million IPO
Special purpose acquisition company DP Cap Acquisition Corp I (Nasdaq: DPCSU) started trading publicly on the Nasdaq Global Market today. The company is seeking to raise US$200 million in its initial public offering.
The offering consists of 20.0 million company units priced at US$10.00 per unit. Each unit is composed of one Class A common 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 “DPCSU”. Once the securities separate, the company shares and warrants will trade under the ticker symbols “DPCS” and “DPCSW”, respectively.
The proposed offering is being managed by Cowen and Company as the sole bookrunner, which the company granted a 45-day over-allotment option to purchase additional 3.0 million company units at the same IPO price.
The blank check company relayed that it is sponsored by DP Investment Management Sponsor. The firm is to be led by its Chairman of the Board, Scott Savitz–founder and managing partner of Data Point Capital, an internet-focused venture capital firm where American actor Leonardo DiCaprio sits as a special advisor.
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.