WASHINGTON (dpa-AFX) - Shreya Acquisition Group (SAGUU) has announced the pricing of its initial public offering of 10 million units at $10 per unit. Each unit consists of one class A share, one redeemable warrant, and one right to receive one-fourth of one class A share upon the consummation of an initial business combination.
Each warrant will entitle the holder thereof to purchase one class A share at $11.50 per share.
The units are expected to trade on the New York Stock Exchange under the ticker symbol 'SAGUU' from May 7. Once the securities comprising the units begin separate trading, the class A shares, the warrants, and the rights are expected to be traded on the NYSE under the symbols 'SAGU', 'SAGUW' and 'SAGUR,' respectively.
The offering is expected to be closed on May 8.
Shreya has granted the underwriter a 45-day option to purchase up to an additional 1.5 million units at the initial public offering price to cover over-allotments.
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