WASHINGTON (dpa-AFX) - Nubia Brand International Corp. said it priced its initial public offering of 11 million units at $10.00 per unit.
The company noted that the units will be listed on the Nasdaq Global Market and will begin trading on March 11, 2022, under the ticker symbol 'NUBIU'.
Each unit consists of one share of the Company's Class A common stock and one-half of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one share of Class A common stock at a price of $11.50 per share. Only whole warrants are exercisable and will trade.
The company has granted the underwriters a 45-day option to purchase up to an additional 1.65 million units at the initial public offering price to cover over-allotments, if any. The offering is expected to close on March 15, 2022.
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