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.