BYTE Acquisition Corp. (BYTS) Prices 30M Unit IPO at $10/Unit

March 19, 2021 6:12 AM EDT

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BYTE Acquisition Corporation (NASDAQ: BYTS), a special purpose acquisition company, today announced the pricing of its initial public offering of 30,000,000 units at a price of $10.00 per unit. The units will be listed on The Nasdaq Capital Market (“Nasdaq”) and will begin trading on March 19, 2021, under the ticker symbol "BYTSU". The offering is expected to close on March 23, 2021, subject to customary closing conditions.

BYTE Acquisition Corporation is a newly formed blank check company incorporated as a Cayman Islands exempted company and incorporated for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses or entities, which we refer to as our initial business combination. While the Company may pursue an acquisition opportunity in any industry or sector, we intend to focus our search for targets in the Israeli technology industry, including those engaged in enterprise software, SaaS, cybersecurity, cloud computing, artificial intelligence (“AI”) and robotics, fintech, automotive technology, semiconductors, medical technology and that offer differentiated technology platforms and products.

Each unit issued in the offering consists of one Class A ordinary share and one-half of one redeemable warrant. Each whole warrant entitles the holder to purchase one Class A ordinary share at a price of $11.50 per share. Once the securities comprising the units commence separate trading, the Class A ordinary shares and warrants are expected to be respectively listed on Nasdaq under the symbols “BYTS” and “BYTSW”. No fractional warrants will be issued upon separation of the units and only whole warrants will trade.

Citigroup Global Markets Inc. is acting as sole book-running manager for the offering. The Company has granted the underwriter a 45-day option from the date of the final prospectus to purchase up to an additional 4,500,000 units at the initial public offering price to cover over-allotments, if any.

A registration statement relating to the securities became effective on March 17, 2021.



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