Global SPAC Partners (GLPS) IPO Prices at $10
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Global SPAC Partners Co. (NASDAQ: GLSPU) announced today that it priced its initial public offering of 16,000,000 units, at $10.00 per unit. The units will be listed on the NASDAQ Capital Market (“NASDAQ”) and will begin trading tomorrow, April 9, 2021, under the ticker symbol “GLSPU.” Each unit consists of one subunit and one-half of a redeemable warrant. Each subunit consists of one Class A ordinary share and one-quarter of a redeemable warrant. Each full warrant entitles the holder thereof to purchase one Class A ordinary share at a price of $11.50 per share. Once the securities comprising the units begin separate trading, the subunits and warrants are expected to be listed on NASDAQ under the symbols “GLSPT” and “GLSPW,” respectively. Assuming the Company consummates an initial business combination, the subunits will separate into the underlying Class A ordinary shares and warrants, while the units and subunits will cease to trade.
The offering is expected to close on April 13, 2021, subject to customary closing conditions.
Global 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. While the Company may pursue an acquisition in any geography, business industry or sector, it intends to concentrate its efforts on identifying businesses in the Middle East, North Africa and South & Southeast Asia regions. The Company is led by Chairman Jayesh Chandan, Chief Executive Officer Bryant B Edwards, Chief Operating Officer & President Stephen N. Cannon, and Chief Financial Officer Long Long.
I-Bankers Securities, Inc. is acting as sole manager of the offering. The Company has granted the underwriters a 45-day option to purchase up to an additional 2,400,000 units at the initial public offering price to cover over-allotments, if any.
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Related EntitiesDefinitive Agreement, IPO, SPAC
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