Tech SPAC AxonPrime Infrastructure Acquisition Conducts US$150 Million IPO
Special purpose acquisition company AxonPrime Infrastructure Acquisition Corporation (Nasdaq: APMIU) started trading publicly on the Nasdaq Capital Market last Friday. The company is seeking to raise US$150 million in its initial public offering.
The offering consists of 15.0 million units priced at US$10.00 per unit. Each unit is composed of one Class A common share and one-third 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 “APMIU”. Once the securities separate, the company shares and warrants will trade under the ticker symbols “APMI” and “APMIW”, respectively.
The proposed offering is being managed by Morgan Stanley as the sole bookrunner, which the company granted a 45-day over-allotment option to purchase additional 2.25 million company units at the same IPO price.
The offering is expected to close on August 17, 2021, subject to customary closing conditions.
The newly-organized blank check company will be looking to transact with firms that are “developing breakthrough scientific and technological innovations in the areas of communication, robotics, building and construction technology, water, 3D printing, and semiconductors.”
Information for this briefing was found via Sedar 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.