Starry Sea Acquisition Corp Secures $50 Million IPO Funding
Starry Sea Acquisition Corp Successfully Prices Initial Public Offering
Starry Sea Acquisition Corp, a notable blank check company, has recently announced the pricing of its initial public offering (IPO) consisting of 5,000,000 units at a price of $10.00 each. This strategic move aims to raise $50 million, demonstrating the company’s intent to explore dynamic business opportunities. Each unit includes one ordinary share and a right to receive one-sixth (1/6) of an additional ordinary share once the company completes its first business combination.
Details of the Offering
The units of Starry Sea Acquisition Corp are set to trade on The Nasdaq Capital Market under the ticker symbol "SSEAU". Trading commencement is expected to take place soon. As per the latest developments, the IPO is anticipated to conclude after complying with customary closure conditions. Following the initiation of trading, ordinary shares and rights are expected to trade under the symbols "SSEA" and "SSEAR," respectively.
Management and Underwriter Information
A.G.P./Alliance Global Partners is acting as the sole book-running manager for this offering, showcasing their commitment to the company and the IPO process.
In an effort to provide flexibility, the company has allowed underwriters the option to purchase up to an additional 750,000 units, valid for 45 days from the offering price. This option enables adjustments to the initial public offering to meet market demand effectively.
Regulatory Details
The registration statement concerning this offering was submitted to the Securities and Exchange Commission (SEC) and has received effectiveness approval. It is crucial to note that this offering is facilitated through an effective registration statement and can only be made using the prospectus associated with it. Interested parties can review the detailed prospectus, which is available on the SEC's website.
About Starry Sea Acquisition Corp
Starry Sea Acquisition Corp is categorized as a blank check company, also referred to as a special purpose acquisition company, or SPAC. The primary mission of Starry Sea Acquisition Corp is to identify viable business prospects to merge with or acquire, fostering growth and development within an expanding market. This could involve share exchanges, asset acquisitions, or reorganizations with various entities, laying a solid groundwork for a prosperous future.
Frequently Asked Questions
What is the purpose of Starry Sea Acquisition Corp?
The company is established to identify and execute business combinations with other firms, enhancing growth opportunities.
How much money did Starry Sea Acquisition Corp raise?
Starry Sea Acquisition Corp raised $50 million through its IPO pricing 5,000,000 units at $10.00 each.
Who manages the IPO for Starry Sea Acquisition Corp?
A.G.P./Alliance Global Partners serves as the sole book-running manager for the IPO offering.
When will Starry Sea Acquisition Corp shares start trading?
The shares are expected to begin trading soon on The Nasdaq Capital Market under the ticker symbol "SSEAU".
Where can potential investors find the prospectus for the IPO?
The prospectus for the IPO is available on the SEC's website, ensuring transparency for potential investors.
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