OceanLight Acquisition Prices $100 Million IPO

MT Newswires Live08-07 21:39

OceanLight Acquisition said Friday it has priced its initial public offering of 10 million units at an offering price of $10 per unit.

Each unit comprises one ordinary share, one right to get one-fourth of one ordinary share upon the consummation of the initial merger, and one redeemable warrant, the company said.

The units are expected to trade on Nasdaq under the ticker OCLTU starting Friday, the company said.

The IPO is expected to close on Monday and once the securities comprising the units start separate trading, the shares and the warrants are expected to trade on Nasdaq under the tickers OCLT, OCLTR and OCLTW respectively, it said.

The underwriters have been given a 45-day option to buy up to 1.5 million additional units, the company said.

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