Freedom Metals Acquisition said late Tuesday it priced its initial public offering of 27.5 million units at $10 apiece.

The company granted the underwriters a 45-day overallotment option to buy up to an additional 4.1 million units. The units are expected to begin trading on Nasdaq on Wednesday under the ticker "FDMMU," according to the blank check company.

Each unit comprises a class A common share and one-third of a redeemable warrant, where each warrant entitles the holder to buy a class A share at an exercise price of $11.50 apiece, the company said.

Once the securities comprising the units begin separate trading, the class A shares and warrants will be listed on Nasdaq under the tickers "FDMM" and "FDMMW," respectively, according to the company.

The offering is expected to close on Thursday, subject to closing conditions, according to a statement.