AIB Acquisition Corp. (AIBBU) Prices $75M IPO

AIB Acquisition Corp. announced the pricing of its $75 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “AIBBU” Wednesday, January 19.

The new SPAC intends to focus its search on businesses in the fintech industry with a total enterprise value between $225 million and $375 million. AIB is led by Chairman of the Board Axel Hoerger, and CEO and CFO Eric Chen.

Total SPAC deal count for 2022 year-to-date is now 15. This offering is expected to close on Friday, January 21.

Maxim Group LLC is acting as the sole book-running manager for the offering. Ellenoff Grossman & Schole LLP is serving as Issuer’s Counsel with Loeb & Loeb LLP serving as Underwriter’s Counsel. UHY LLP serves as auditor. Continental Stock Transfer & Trust Company is acting as trustee.