Melar Acquisition Raises $160 Million From Initial Public Offering of Units-February 2024-www.financetom.com

Melar Acquisition Raises $160 Million From Initial Public Offering of Units

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Melar Acquisition Raises $160 Million From Initial Public Offering of Units

Jun 20, 2024 1:49 PM

04:30 PM EDT, 06/20/2024 (MT Newswires) -- Melar Acquisition (MACIU) said it raised $160 million in gross proceeds from an initial public offering of units.

The company sold 16 million units at $10 a piece in the offering, with each unit consisting of one class A ordinary share and one-half of one redeemable warrant

Each whole warrant has an exercise price of $11.50 to purchase one class A ordinary share, according to the company.

Melar Acquisition has granted underwriters an overallotment option to buy up to 1.3 million additional units.

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