Mexico-focused blank check company DD3 Acquisition sets terms for $50 million IPO
DD3 Acquisition, a blank check company formed to acquire a business in Mexico, announced terms for its IPO on Wednesday.
The Mexico City, Mexico-based company plans to raise $50 million by offering 5 million units at a price of $10. Each unit will consist of one share of common stock and one warrant to purchase one share of common stock at $11.50. DD3 Acquisition would command a fully diluted market value of $65 million. Sponsor DD3 Mex Acquisition has agreed to purchase $2.3 million in a concurrent private placement.
DD3 Acquisition was founded in 2018 and plans to list on the Nasdaq under the symbol DDMXU. EarlyBirdCapital is the sole bookrunner on the deal.
The article Mexico-focused blank check company DD3 Acquisition sets terms for $50 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.
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