WASHINGTON (dpa-AFX) - Inflection Point Acquisition Corp. VIII (IPHXU, IPFX), on Friday, priced its initial public offering of 25 million units at $10 each, raising $250 million.
The company said that each unit comprises one Class A ordinary share and one-third of a redeemable warrant, with each whole warrant exercisable at $11.50 per share.
The IPO is expected to close on August 31.
The company has granted underwriters a 45-day option to purchase up to an additional 3.75 million units to cover over-allotments.
The units will begin trading on Nasdaq on August 28 under the ticker IPHXU, while the Class A shares and warrants are expected to trade separately under IPHX and IPHXW, respectively.
The company intends to pursue a business combination with a North American or European business in disruptive growth sectors, while retaining flexibility to target companies in any industry, sector or geography.
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