Redwoods Acquisition Corp. (RWODU) Prices $100M IPO

Redwoods Acquisition Corp. priced its $100 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “RWODU” Thursday, March 31.

The new SPAC intends to focus on the carbon neutral and energy storage industries with an enterprise value of approximately $250 million to $1 billion. Redwoods is led by CEO Jiande Chen and CFO Edward Cong Wang.

Total SPAC deal count for 2022 year-to-date is now 54. This offering is expected to close on Monday, April 4.

Chardan, the representative of the underwriters, is acting as sole book-running manager of the offering. Loeb & Loeb LLP is serving as Issuer’s Counsel with Ellenoff Grossman & Schole LLP serving as Underwriter’s Counsel. Friedman LLP serves as auditor. Continental Stock Transfer & Trust Company is acting as trustee.