JVSPAC Acquisition announced the closing of its initial public offering of 5.75 million units priced at $10 each. That includes 750,000 units issued pursuant to the full exercise of the underwriter's over-allotment option.
The new SPAC intends to target companies “that are at the intersection of the lifestyle sectors and technology,” according to the S-1 filed in October.
Each unit consists of one Class A share and one right good for one-fourth of a share upon completion of a business combination.
Units trade on the Nasdaq under the ticker symbol JVSAU. Once the securities begin separate trading, shares and rights will list under the symbols JVSA and JVSAR.
Maxim Group was sole book-running manager for the offering. Read more.