Adit Ventures' SPAC Adit EdTech Acquisition prices upsized $240 million IPO

Adit EdTech Acquisition, a blank check company formed by Adit Ventures targeting the education sector, raised $240 million by offering 24 million units at $10. The company offered 4 million more units than anticipated. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50.

The company is led by Chairman Eric Munson, co-founder and CIO of Adit Ventures and a former Principal at Ada Investments, and CEO and Director David Shrier, a Professor of Practice, AI, and Innovation at Imperial College Business School and co-founder and Managing Director of Esme Learning Solutions. The company plans to target the education, training, and education technology sectors.

Adit EdTech Acquisition plans to list on the NYSE under the symbol ADEX.U. EarlyBirdCapital acted as lead manager on the deal.

The article Adit Ventures' SPAC Adit EdTech Acquisition prices upsized $240 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's Renaissance IPO ETF (symbol: IPO), Renaissance International ETF (symbol: IPOS), or separately managed institutional accounts 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.

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