Alchemy Investments 1 Prices $100M IPO

Alchemy Investments Acquisition 1 priced its initial public offering of 10 million units at $10 each. Units began listing today on the Nasdaq Global under the ticker symbol ALCYU. Each consists of one Class A share and one-half of a warrant.

Alchemy plans to target companies engaged in data analytics, including remote sensing, telecommunications, financial trading, environmental monitoring, greenhouse gas emissions monitoring, business intelligence, precision agriculture, infrastructure monitoring, traffic monitoring and management, data science, and their adjacent industries.

Chairman Steven M. Wasserman is co-founder and managing partner of Alchemy Investment Management, an affiliate of the sponsor. Wasserman has been a principal in MSP Capital, an investment fund specializing in professional sports businesses, since 2019. 

Once the units separate for trading, shares and are expected to list under the symbols ALCY and ALCYW.

The offering is expected to close May 9.

Cantor Fitzgerald is sole bookrunner for the offering. The SPAC has granted the underwriter a 45-day option to purchase up to an additional 1.5 million units at the IPO price to cover any over-allotments. Read more.

Source: Alchemy Investments 1 Prices 0M IPO