TradeUP Global Corporation (TUGCU) Prices $40M IPO

TradeUP Global Corporation announced the pricing of its $40 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “TUGCU” Thursday, April 29.

The new SPAC aims to combine with a business that has been misevaluated by the marketplace and is underperforming its potential. TradeUP is led by CEO and Chairman Jeinwai Lei, Co-CEO Lei Huang, alongside CFO and Secretary Luqi “Lulu” Wen.

Total SPAC deal count for 2021 year-to-date is now 309. This offering is expected to close on Monday, May 3.

Tiger Brokers is serving as the lead book-running manager for the offering with R.F. Lafferty & Co., Inc, and Ingalls & Snyder, LLC as the joint book-running managers.  Sidley Austin LLP is serving as Issuer’s Counsel with Winston & Strawn LLP serving as Underwriter’s Counsel. Friedman LLP serves as auditor. Wilmington Trust, National Association is acting as trustee.