Sizzle Acquisition (SZZL) said late Thursday that it closed its initial public offering of 23 million units priced at $10 apiece, raising $230 million in gross proceeds.
The company said the offering included 3 million units issued due to the underwriters' full exercise of their over-allotment option.
Each unit consists of one class A ordinary share and one right to receive one-tenth of a Class A ordinary share upon the completion of an initial business combination, the company said.
The units began trading on Nasdaq last Wednesday under the ticker symbol 'SZZLU', the company said, adding the funds raised have been deposited into a trust account.
The units will be traded under the symbols 'SZZL' and 'SZZLR,' respectively once separate.
Sizzle Acquisition said its management team is led by CEO and Chairman Steve Salis, Non-Executive Vice-Chairman Jamie Karson, and CFO Daniel Lee, with additional board members Neil Leibman, Warren Thompson and David Perlin.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.