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Spindletop Health Closes IPO at $10 Per Unit
Spindletop Health Acquisition Corp. recently closed its initial public offering of 23 million units at a price of $10.00 per unit including 3 million units issued pursuant to the exercise in full by the underwriters of the over-allotment option. The units are listed on the NASDAQ market and began trading under the ticker symbol SHCAU on November 4, 2021.
Each unit consists of one share of the company’s class-A common stock and one-half of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one share of class-A common stock at a price of $11.50 per share. Only whole warrants will be exercisable. Once the securities comprising the units begin separate trading, the company expects that its class-A common stock and warrants will be listed on NASDAQ under the symbols SHCA and SHCAW, respectively.
The company was formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses.
Barclays and Stifel acted as joint book running managers.
- ◦Financing
