SPAC Welsbach Technology Metals Acquisition Prices US$75 Million IPO
Special purpose acquisition company Welsbach Technology Metals Acquisition Corp. (Nasdaq: WTMAU) started trading publicly on the Nasdaq Global Market yesterday. The company is seeking to raise US$75 million in its initial public offering.
The offering consists of 7.5 million company units priced at US$10.00 per unit. Each unit is composed of one Class A common share and one right to one-tenth of a common share upon business combination.
The company units trade on the Nasdaq big board under the symbol “WTMAU”. Once the securities separate, the company shares and warrants will trade under the ticker symbols “WTMA” and “WTMAR”, respectively.
The proposed offering is being managed by Chardan as the sole bookrunner. The company granted the underwriters a 45-day over-allotment option to purchase additional 1.125 million company units at the same IPO price.
The offering is expected to close on December 30, 2021, subject to customary closing conditions.
On its target firms for businesses combination, the company is planning to focus on firms in the technology metals and energy transition materials industry.
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.
