News Alert: Trident Acquisitions prices $175 million IPO
May 30, 2018 INTEL by Kristi Marvin
Eastern European Energy Focused SPAC Trident Acquisitions Corp. Prices $175 Million IPO
This morning, Trident Acquisitions Corp. announced the pricing of their $175 million Eastern European energy-focused SPAC and the unit began trading late this morning under the symbol TDACU.
Summary of terms are as follows:
- $10.00 unit comprised of one share of common stock, one right and one full warrant
- Warrant redemption threshold: equals or exceeds $16.00
- 102% held in trust ($10.20 per share)
- 18 months to complete an acquisition
- Redemption rights: limitation of 20% of the shares sold in the IPO
Congratulations to the Underwriters – Chardan, as book-runner, and I-Bankers, as co-manager.