Chart Acquisition Corp. (CACGU), a newly-organized blank check company formed for the purpose of acquiring or merging with an operating business, announced that it has priced its initial public offering of 7.50 million units at a price of $10.00 per unit for gross proceeds of $75 million.
Each unit issued in the initial public offering consists of one share of common stock and one warrant to purchase one share of common stock at an exercise price of $11.50 per share.
The company noted that its units have been approved for listing upon notice of issuance on the Nasdaq Capital Market under the ticker symbol "CACGU". The company stated that it has granted the underwriters a 45-day option to purchase up to an additional 1.13 million units to cover overallotments, if any.
by RTT Staff Writer
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