Stratim Cloud Acquisition Corp. (SCAQ) Prices 25M Unit IPO at $10/Unit
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Stratim Cloud Acquisition Corp. (NASDAQ: SCAQ) announced today that it priced its initial public offering of 25,000,000 units at $10.00 per unit. The units will be listed on The Nasdaq Capital Market (“Nasdaq”) and trade under the ticker symbol “SCAQU” beginning March 12, 2021. Each unit consists of one share of Class A common stock and one-third of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one share of Class A common stock at a price of $11.50 per share. Only whole warrants are exercisable. Once the securities comprising the units begin separate trading, the shares of Class A common stock and redeemable warrants are expected to be listed on Nasdaq under the symbols “SCAQ” and “ SCAQW”, respectively.
The Company is a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. The Company intends to focus on businesses operating in the technology sector.
BofA Securities and Cowen are acting as joint book-running managers. 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.
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Create E-mail Alert Related CategoriesCorporate News, Equity Offerings, IPOs, SPAC
Related EntitiesCowen & Co, Definitive Agreement, IPO, SPAC
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