05:54 PM EST, 12/04/2024 (MT Newswires) -- Shepherd Ave Capital Acquisition (SPHAU) said late Wednesday it priced its initial public offering of 7.5 million units at $10 apiece.

The blank-check company has granted a 45-day overallotment option to the underwriters to acquire up to 1.13 million additional units.

Each unit comprises one class A ordinary share and one right, with each whole right entitling the holder to receive one-fifth of a share upon the consummation of an initial business combination, Shepherd Ave said.

The company expects its units to start trading on the Nasdaq Global Market under the ticker symbol SPHAU Thursday, while its class A shares and rights are expected to be listed under the symbols SPHA and SPHAR, respectively.

Shepherd Ave expects the IPO to close Friday.