Ault Disruptive Technologies Corp. (ADRTU) Prices $100M IPO


Ault Disruptive Technologies Corp. (ADRTU) Prices $100M IPO

Dec 15, 2021 IPOs by Marlena Haddad

Ault Disruptive Technologies Corp. announced the pricing of its $100 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “ADRTU” Thursday, December 16.

The new SPAC intends to acquire a target business with innovative and emerging technologies, products, or services that have the potential to transform major industries and radically impact society that has an aggregate enterprise value of approximately $200 million to $500 million and would benefit from access to public markets and the operational and strategic expertise of the company’s management team and board of directors. Ault Disruptive Technologies Corp. is led by Chairman of the Board Milton C. (Todd) Ault III, CEO William B. Horne, President and General Counsel Henry C. W. Nisser, CFO Kenneth S. Cragun, and VP of Finance David Katzoff.

Total SPAC deal count for 2021 year-to-date is now 602. This offering is expected to close on Monday, December 20.

A.G.P./Alliance Global Partners is the sole book-running manager, and Brookline Capital Markets, a division of Arcadia Securities, LLC, acted as co-manager for the offering.  Olshan Frome Wolosky LLP is serving as Issuer’s Counsel with Sheppard, Mullin, Richter & Hampton LLP serving as Underwriter’s Counsel. Marcum LLP serves as auditor. Continental Stock Transfer & Trust Company is acting as trustee.