Broad Capital Acquisition Corp. (BRACU) Prices $100M IPO


Broad Capital Acquisition Corp. (BRACU) Prices $100M IPO

Jan 11, 2022 IPOs by Marlena Haddad

Broad Capital Acquisition Corp. announced the pricing of its $100 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “BRACU” Tuesday, January 11.

The new SPAC intends to focus on businesses operating within the general aviation and aerospace industry, and the unmanned aircraft systems and advanced air mobility industries in Southeast Asia. Broad Capital is led by CEO and Member of Nomination Committee Johann Tse, and CFO Rongrong “Rita” Jiang.

Total SPAC deal count for 2022 year-to-date is now 5. This offering is expected to close on Thursday, January 13.

Chardan acted as sole book running manager in the offering. Rimon, P.C. is serving as Issuer’s Counsel with Loeb & Loeb LLP serving as Underwriter’s Counsel. MaloneBailey, LLP serves as auditor. Continental Stock Transfer & Trust Company is acting as trustee.