WASHINGTON (dpa-AFX) - QuasarEdge Acquisition Corp announced that it had priced its initial public offering at $100 million, offering 10 million units at $10 each, as the blank-check firm prepares to list on the New York Stock Exchange.
Trading is expected to begin on April 15 under the ticker QREDU. Each unit includes one ordinary share and a right to receive one-quarter of a share upon completion of a future business combination.
Once separated, the shares and rights are set to trade individually as QRED and QREDR.
The offering is expected to close on April 16, subject to customary conditions.
Polar Advisory Partners is acting as the sole book-running manager. The underwriter has also been granted a 45-day option to purchase up to 1.5 million additional units to cover over-allotments.
Legal advisory roles are being handled by Celine and Partners P.L.L.C. for the company and O'Melveny& Myers LLP for the underwriter.
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