Proficient Alpha Acquisition Corp. (PAACU), announced the pricing of their $100 million SPAC IPO this evening and the units are expected to begin trading tomorrow, May 29th, under the symbol Nasdaq: PAACU.
Proficient Alpha, which will be focusing on financial services businesses in Asia and primarily China, will be led by Kin Sze, as Co-Chief Executive Officer, President and Secretary, along with Wei Fan, as Co-Chief Executive Officer and Director.
Total SPAC deal count for 2019 year-to-date is now 24 with $5.347 billion in gross proceeds raised. The offering is expected to close on June 3, 2019.
Congratulations to all.
I-Bankers Securities, Inc. acted as sole book-running manager and EarlyBirdCapital, Inc. acted as co-manager.
Ellenoff Grossman & Schole LLP and Schiff Hardin LLP were Issuer’s Counsel and Underwriter’s Counsel, respectively.