Aldel Financial Inc. (ADF.U) Prices $100M IPO


Aldel Financial Inc. (ADF.U) Prices $100M IPO

Aldel Financial Inc. announced the pricing of its $100 million IPO and its units are expected to begin trading on the NYSE under the symbol “ADF.U”, Friday, April 9.

The new company aims to combine with a target coming out of a business restructuring process led by strong management. CEO and Chairman Robert I. Kauffman and CFO Hassan R. Baqar.

Total SPAC deal count for 2021 year-to-date is now 305. This offering is expected to close on Monday, April 12.

ThinkEquity, a division of Fordham Financial Management, Inc., is acting as sole book-running manager for the offering. Loeb & Loeb LLP is serving as Issuer’s Counsel with Blank Rome LLP serving as Underwriter’s Counsel. Plante & Moran, PLLC serves as auditor. Continental Stock Transfer & Trust Company is acting as trustee.