Tavia Acquisition (TAVI) said Friday it closed its initial public offering of 10 million units at a price of $10 each for gross proceeds of $100 million.
The company said the units are listed and trading on Nasdaq under the symbol "TAVIU," with each unit comprising one ordinary share and one right to receive one-tenth of one ordinary share upon completion of a business combination.
Once the securities start trading separately, the ordinary shares will be listed under the symbol "TAVI" and the rights under "TAVIR," the company said.
The underwriters have a 45-day option to buy up to 1.5 million units more at the IPO price to cover any overallotments, Tavia said.
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