Stable Road Acquisition Corp. (SRACU), announced the pricing of their $150 million SPAC IPO this evening and the units are expected to begin trading tomorrow, Friday, November 8th, under the symbol Nasdaq: SRACU.
Stable Road will be focusing on companies in the cannabis sector and will be led by Brian Kabot, as Chairman and CEO.
Total SPAC deal count for 2019 year-to-date is now 49 with $11.5 billion in gross proceeds raised. The offering is anticipated to close on Wednesday, November 13, 2019.
Congratulations to all.
Cantor Fitzgerald acted as sole book-running manager for the offering. Ellenoff Grossman & Schole LLP and Graubard Miller, were Issuer’s Counsel and Underwriter’s Counsel, respectively.