American Exceptionalism Acquisition Corp. A (AEXA) made a strong debut on the New York Stock Exchange Friday, with its shares soaring 6.25% in intraday trading. The impressive start comes on the heels of the company's successful initial public offering (IPO), which was priced at $10 per share.
The blank-check company, also known as a special purpose acquisition company (SPAC), raised $300 million in its upsized IPO by offering 30 million shares. The strong investor interest in AEXA's public debut reflects the continued appetite for SPACs in the market, despite recent regulatory scrutiny in the sector.
Adding to the positive sentiment, American Exceptionalism Acquisition Corp. A has granted its underwriters a 45-day option to purchase up to an additional 4.5 million shares to cover over-allotments. This move could potentially increase the total funds raised and further boost investor confidence in the newly listed entity.