Mercator Acquisition (MRCOU) said Friday it closed its initial public offering of 15 million units at $10 apiece.

The offering comprised 2.3 million units issued upon the full exercise of an overallotment option by the underwriter, according to a statement.

Each unit comprises a class A common share and one-half of a redeemable warrant, where each warrant is exercisable to buy a class A share at $11.50 per share, the company said.

The class A shares and warrants will be listed on Nasdaq under the tickers "MRCO" and "MRCOW," respectively, once the securities comprising the units begin separate trading, according to the company.