Disruptive Acquisition Corp. (DISA) Prices 25M Unit IPO at $10/Unit
- S&P 500, Dow climb for third day and close at records
- Tesla (TSLA) China Numbers 'Robust' - Wedbush
- Apple (AAPL) Shares Seen as 'Attractive' as Recent Checks Show Continuously Strong Demand - Citi
- Investors Poured More Money Into Stocks in Past 5 Months Than Last 12 Years, Says BofA, Analysts Worried About Stretched Valuations
- Amazon.com warehouse workers vote to reject forming union in Alabama
Get inside Wall Street with StreetInsider Premium. Claim your 1-week free trial here.
Disruptive Acquisition Corporation I (NASDAQ: DISA) announced today that it priced its initial public offering of 25,000,000 units at $10.00 per unit. The units are expected to be listed on The Nasdaq Capital Market (“Nasdaq”) and trade under the ticker symbol “DISAU” beginning on March 24, 2021. Each unit consists of one Class A ordinary share and one-third of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one Class A ordinary share at a price of $11.50 per share. Only whole warrants are exercisable and will trade. Once the securities comprising the units begin separate trading, the Class A ordinary shares and redeemable warrants are expected to be listed on Nasdaq under the symbols “DISA” and “DISAW,” respectively.
The Company is a blank check company, newly incorporated as a Cayman Islands exempted company for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. While the Company may pursue an initial target business in any stage of its corporate evolution or in any industry or sector, it initially intends to focus its search on target businesses primarily in the health and wellness, entertainment and consumer-facing technology sectors. The management team includes Chief Executive Officer Alexander J. Davis, Chief Financial Officer Phillip C. Caputo, Chief Operating Officer David M. Tarnowski and Vice President, Business Development Mardy S. Fish.
The Company has formed an Athlete Advisory Council (the “Council”), a group of elite athletes across a range of professional sports and geographies. The Council’s current members include Justin Verlander, Naomi Osaka, Patrick Mahomes, Robert Lewandowski and Saul “Canelo” Álvarez.
Credit Suisse Securities (USA) LLC and Citigroup Global Markets Inc. are acting as joint book-running managers of the offering. The Company has granted the underwriters a 45-day option to purchase up to an additional 3,750,000 units at the initial public offering price to cover over-allotments, if any.
The offering is being made only by means of a prospectus.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Grab is said to announce deal with Altimeter Growth Corp (AGC) next week - Bloomberg
- SuRo Capital Corp (SSSS) Announces First Quarter Preliminary Investment Portfolio Update
- Robinhood Hid Certain Stock Trades From its Public Feed; Seeks More Credit Ahead of IPO
Create E-mail Alert Related CategoriesCorporate News, Equity Offerings, IPOs, SPAC
Related EntitiesCredit Suisse, Citi, Definitive Agreement, IPO, SPAC
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!