Stratim Cloud Acquisition Corp. (SCAQU) Prices $250M IPO


Stratim Cloud Acquisition Corp. (SCAQU) Prices $250M IPO

Stratim Cloud Acquisition Corp. announced the pricing of its $250 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “SCAQU,” Friday, March 12.

The new company aims to combine with a technology target in the cloud services, consumer SaaS applications, and security software spheres. Stratim Cloud is led by Chairman and CEO Sreekanth Ravi and CFO, Chief Strategy and Secretary Zachary Abrams.

Total SPAC deal count for 2021 year-to-date is now 252. This offering is expected to close on Tuesday, March 16.

BofA Securities, Inc. and Cowen and Company, LLC are serving as the joint book-running managers for this offering. Skadden, Arps, Slate, Meagher & Flom LLP is serving as Issuer’s Counsel with White & Case LLP serving as Underwriter’s Counsel. Marcum LLP serves as auditor. Continental Stock Transfer & Trust Company is acting as trustee.