Rainier Acquisition Prices $75 Million IPO at $10 Per Unit
MT Newswires Live
Aug 27
Rainier Acquisition (RNAQ, RNAQU) said Wednesday it priced its initial public offering of 7.5 million units at $10 each.
The company said the units, consisting of one class A share and one-quarter of a redeemable warrant, are expected to begin trading on Nasdaq on Thursday under RNAQU.
Rainier Acquisition said once the securities comprising the units begin separate trading, the shares and warrants to trade separately under RNAQ and RNAQW, respectively.
The offering is expected to close Friday, the company said.
The company said the underwriter has a 45-day option to purchase up to an additional 1.1 million units to cover over-allotments.
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.