OTR Acquisition Corp. (OTRAU) Prices Downsized $100M IPO

OTR Acquisition Corp.announced the pricing of its downsized $100 million IPO this morning and its units are expected to begin trading on the Nasdaq under the symbol “OTRAU” today, Tuesday, November 17.

The new company aims to combine with a target that has a strong competitive position and unique management talent valued at between $750 million and $2.5 billion. It is led by Chairman and CEO Nicholas J. Singer and and Director Douglas B. Anderson.

Total SPAC deal count for 2020 year-to-date is now 182 with $65.6 billion in gross proceeds raised. This offering is expected to close on Thursday, November 19.

Source: SPACInsider – OTR Acquisition Corp. (OTRAU) Prices Downsized $100M IPO

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