News Alert: Trident Acquisitions prices $175 million IPO

Alert

News Alert: Trident Acquisitions prices $175 million IPO

May 30, 2018 INTEL by SPACInsider

Eastern European Energy Focused SPAC Trident Acquisitions Corp. Prices $175 Million IPO

This morning, Trident Acquisitions Corp. announced the pricing of their $175 million Eastern European energy-focused SPAC and the unit began trading late this morning under the symbol TDACU.

Summary of terms are as follows:

  • $10.00 unit comprised of one share of common stock, one right and one full warrant
  • Warrant redemption threshold: equals or exceeds $16.00
  • 102% held in trust ($10.20 per share)
  • 18 months to complete an acquisition 
  • Redemption rights:  limitation of 20% of the shares sold in the IPO

Congratulations to the Underwriters –  Chardan, as book-runner, and I-Bankers, as co-manager.

 

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