(RTTNews) - Futurewave Acquisition Corp. (FWACU) Thursday announced the pricing of its initial public offering of 7.5 million units at $10.00 per unit, raising $75 million in gross proceeds.
The units are expected to begin trading on the Nasdaq Global Market on June 25 under the ticker symbol FWACU. The offering is expected to close on June 26, subject to customary closing conditions.
Each unit consists of one ordinary share, one redeemable warrant and one right. Each warrant is exercisable for one ordinary share at $11.50 per share, while each right entitles the holder to receive one-fourth of one ordinary share upon the completion of the company's initial business combination.
Futurewave Acquisition, a Cayman Islands-incorporated special purpose acquisition company (SPAC), also granted the underwriters a 45-day option to purchase up to 1.125 million additional units to cover over-allotments.
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