Peace Acquisition (PECEU) said late Tuesday it consummated its initial public offering of 6 million units at $10 each, resulting in gross proceeds of $60 million.

The units are listed on the Nasdaq Capital Market and trade under the symbol "PECEU," the company said.

Each unit comprised one ordinary share, one right entitling the holder to get one-fifth of one ordinary share upon the completion of an initial business combination, and one warrant entitling the holder to buy one ordinary share for $11.50 per share, subject to adjustment, according to the company.

Once the securities comprising the units begin separate trading, the ordinary shares, rights and warrants are expected to be listed under the symbols "PECE," "PECER" and "PECEW," respectively.