Social Commerce Partners (SCPQ) said Wednesday it closed its initial public offering of 10 million units at $10 each for gross proceeds of $100 million.

Units of the special purpose acquisition company are trading on Nasdaq Global Market under the symbol "SCPQU."Each unit consists of one class A ordinary share and one-half of one redeemable warrant, with each whole warrant exercisable to purchase one class A ordinary share at $11.50, the company said.

Upon separation of the unit's components, the ordinary shares and warrants are expected to list on Nasdaq under the symbols "SCPQ" and "SCPQW," respectively, it said.

Social Commerce Partners said it plans to use net proceeds from the offering, together with funds from a private placement, to pursue a business combination with one or more businesses.