Energy SPAC Trident Acquisitions files for a $175 million IPO

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Trident Acquisitions, a blank check company formed to acquire an energy company in Eastern Europe, filed on Wednesday with the SEC to raise up to $175 million in an initial public offering.

The New York, NY-based company plans to offer 17.5 million units at a price of $10. At that price, Trident Acquisitions would command a market value of $230 million. Each unit consists of one share of common stock and one warrant exercisable at $11.50/share.

The New York, NY-based company was founded in 2016 and plans to list on the Nasdaq under the symbol TDACU. Trident Acquisitions filed confidentially on May 3, 2016. Chardan Capital Markets is the sole bookrunner on the deal. No pricing terms were disclosed.

The article Energy SPAC Trident Acquisitions files for a $175 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital, the Renaissance IPO ETF (symbol: IPO) or the Global IPO Fund (symbol: IPOSX) , may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: News Headlines , IPOs

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