OmniLit Acquisition Corp. (OLITU) Prices $125M IPO


OmniLit Acquisition Corp. (OLITU) Prices $125M IPO

OmniLit Acquisition Corp. priced its $125 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “OLITU” Tuesday, November 9.

The new SPAC intends to concentrate its efforts in identifying high quality businesses in the advanced manufacturing industry, specifically the photonics or optics products, services, and end markets, and related products, services, and end-markets. OmniLit is led by CEO and Chairman of the Board of Directors Al Kapoor, CFO Robert O. Nelson II, and COO Skylar M. Jacobs.

Total SPAC deal count for 2021 year-to-date is now 532. This offering is expected to close on Thursday, November 11.

Imperial Capital and I-Bankers Securities, Inc. are acting as the joint book-running managers. Harter Secrest & Emery LLP is serving as Issuer’s Counsel with Paul Hastings LLP serving as Underwriter’s Counsel. Marcum, LLP serves as auditor. Continental Stock Transfer & Trust Company is acting as trustee.