WASHINGTON (dpa-AFX) - Willow Lane Acquisition Corp. II Unit (WLIIU, WLAC, WLACU), on Friday priced its initial public offering of 12,500,000 units at $10 per unit, raising $125 million in gross proceeds.
The offering is expected to close on February 17.
The company said that each unit consists of one Class A ordinary share and one-fourth of one redeemable warrant.
Each whole warrant entitles the holder to purchase one Class A ordinary share at $11.50 per share.
Units are expected to begin trading on The Nasdaq Stock Market LLC under the symbol 'WLIIU' on February 13.
Upon separation, Class A ordinary shares and warrants are expected to trade under the symbols 'WLII' and 'WLIIW,' respectively.
The company granted the underwriters a 45-day option to purchase up to an additional 1,875,000 units at the IPO price to cover over-allotments.
Willow Lane Acquisition closed the regular trading session on February 13 at $11.03, down $0.22 or 1.96%. Later, in after-hours trading, the share price rose to $11.05, gaining $0.02 or 0.15%, as of 7:33 PM EST.
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