Peace Acquisition Corp. (PECEU), a blank check company, on Thursday, announced the pricing of its initial public offering of 6 million units at $10 per unit.
The units are expected to begin trading on the Nasdaq Capital Market on May 22 under the ticker symbol "PECEU."
The company granted the underwriters a 45-day option to purchase up to an additional 900,000 units to cover over-allotments, if any.
The company said each unit consists of one ordinary share. Each unit also includes one right entitling the holder to receive one-fifth of one ordinary share upon completion of an initial business combination.
Each unit further includes one warrant to purchase one ordinary share at $11.50 per share, subject to adjustment.
Once the securities begin separate trading, the ordinary shares, rights and warrants are expected to trade under the symbols "PECE," "PECER" and "PECEW," respectively.
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