Venture Capital-Backed SPAC Banner Acquisition Eyes US$150 Million IPO

Special purpose acquisition company Banner Acquisition Corp. (Nasdaq: BNNRU) started trading publicly yesterday on the Nasdaq Capital Market. The company is seeking to raise US$150 million in its initial public offering.

The offering consists of 15.0 million company units priced at US$10.00 per unit, down from the initial 30.0 million units. 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 “BNNRU”. Once the securities separate, the company shares and warrants will trade under the ticker symbols “BNNR” and “BNNRW”, respectively.

The proposed offering is being managed by BofA Securities, Inc. 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 September 10, 2021, subject to customary closing conditions.

The blank check company is backed by venture capital firm Banner Ventures and will be led by The Ensign Group (Nasdaq: ENSG) Executive Chairman Christopher Christensen as its chair. The company said it intends to “seek partnership with family-owned or founder-led businesses”.


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.

Video Articles

Goliath Resources Hits 10.60 g/t Gold Over 22.82 Metres, Highest Grade Results In Third Distinct Rock Package At Surebet Discovery

Four Countries Control the Fertilizer That Feeds the World | Sage Potash

$10,000 Gold Is Just A Question of Time | Florian Grummes

Recommended

Antimony Resources Drills 5.27% Sb Over 4.95 Metres In Latest Results

Nord Precious Metals Identifies 29 Veins At Castle East Following 3D Modeling

Related News

Ecommerce Firm GigaCloud Soars 206% Since US$36 Million Nasdaq IPO

B2B ecommerce solutions provider GigaCloud Technology Inc (Nasdaq: GCT) started trading on the Nasdaq Capital...

Monday, August 22, 2022, 02:41:00 PM

SPAC Lakeshore Acquisition II Prices US$60 Million IPO

Special purpose acquisition company Lakeshore Acquisition II Corp. (Nasdaq: LBBBU) started trading publicly on the...

Wednesday, March 9, 2022, 12:06:00 PM

Cannabis SPAC Clover Leaf Capital Prices US$125 Million IPO

Special purpose acquisition company Clover Leaf Capital Corp. started trading its securities on the Nasdaq...

Tuesday, July 20, 2021, 04:46:00 PM

Grill Maker Traeger Prices US$423.5 Million IPO

Outdoor cooking system maker Traeger Inc. (Nasdaq: COOK) started publicly trading on the New York...

Friday, July 30, 2021, 11:20:00 AM

SPAC Chavant Capital Acquisition Seeks To Raise US$80 Million In IPO

Special purpose acquisition company Chavant Capital Acquisition Corp. went public on Nasdaq Capital Market today....

Tuesday, July 20, 2021, 11:38:00 AM