Meridian3 Prices IPO Of 17.50 Mln Units At $10/unit; To Raise $175 Mln

WASHINGTON (dpa-AFX) - Meridian3 Industrials Acquisition Corp. announced the pricing of its initial public offering or IPO of 17.50 million units at $10.00 per unit, raising $175 million.Each unit consists of Class A ordinary share of the Company and one-half of one redeemable warrant. Each whole w…

WASHINGTON (dpa-AFX) - Meridian3 Industrials Acquisition Corp. announced the pricing of its initial public offering or IPO of 17.50 million units at $10.00 per unit, raising $175 million.

Each unit consists of Class A ordinary share of the Company and one-half of one redeemable warrant. Each whole warrant entitles the holder to purchase a class A ordinary share at a price of $11.50 per share.

Furthermore, the company has granted underwriter a 45-day option to purchase up to an additional 2.63 million units at the IPO price to cover over-allotments, if any

The units will be listed on the Nasdaq and begin trading on July 2 with the ticker 'MIACU'.

The offer is expected to close on July 6.

Cantor Fitzgerald & Co. is serving as the sole book-running manager for the offering.