Special Purpose Acquisition Company (SPAC) 26 Capital Acquisition Corp has announced an initial public offering (IPO) that will see it listed on the Nasdaq market.
The company is led by its CEO Jason Ader, who is a gaming industry analyst and also CEO of SpringOwl Asset Management, with John Lewis performing in the role of CFO.
The IPO is of 24m units priced at $10 each, which began trading on Nasdaq today on 15 January under the ticker symbol ADERU.
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 to purchase one share of Class A common stock for $11.5 per share.
The SPAC is a blank check company formed to effect a merger or asset acquisition and intends to concentrate on identifying businesses in the gaming sector, among others in the technology and e-commerce industries.
