Chavant Acquisition Corp. (CLAYU) Prices Downsized $80M IPO


Chavant Acquisition Corp. (CLAYU) Prices Downsized $80M IPO

Jul 20, 2021 IPOs by Marlena Haddad

Chavant Acquisition Corp.  announced the pricing of its downsized $80 million IPO and its shares are expected to begin trading on the Nasdaq under the symbol “CLAYU” Tuesday, July 20.

The new SPAC aims to combine with a target in the advanced manufacturing and advanced materials industries with an enterprise value of at least $600 million. Chavant is led by CEO and President Dr. Jiong Ma, Chairman Dr. André-Jacques Auberton-Hervé, and CFO Michael Lee.

Total SPAC deal count for 2021 year-to-date is now 377. This offering is expected to close on Thursday, July 22.

Roth Capital Partners and Craig-Hallum are serving as the joint book-running managers for the offering. Winston & Strawn LLP is serving as Issuer’s Counsel with Graubard Miller serving as Underwriter’s Counsel. BDO USA, LLP serves as auditor. Continental Stock Transfer & Trust Company is acting as trustee.