FortuneX Acquisition Corp. (FXACU) Friday announced the pricing of its Initial Public Offering or IPO of 7.5 million units at $10.00 per unit. Each unit consists of one ordinary share and one-half of one redeemable warrant, with each whole warrant exercisable to purchase one ordinary share at $11.50 per share, subject to adjustment provisions, the company said in an official statement.
The company said that the units are expected to begin trading on the Nasdaq Market under the ticker symbol "FXACU" on May 22. The IPO is anticipated to close on May 26, subject to customary closing conditions. Once the securities comprising the units begin separate trading, the ordinary shares and warrants are expected to trade under the symbols "FXAC" and "FXACW," respectively, FortuneX Acquisition added.
Additionally, the company said that it has granted the underwriters a 45-day option to purchase up to an additional 1.13 million units at the IPO price, less underwriting discounts and commissions, to cover any over-allotments.
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