05:54 PM EDT, 05/19/2025 (MT Newswires) -- Wen Acquisition (WENN) said late Monday it closed its initial public offering of over 30 million units at $10 apiece, for gross proceeds of $300.2 million.

The offering included over 3.9 million units exercised in full by the underwriters under their overallotment option, according to the blank check company.

Each unit comprises one class A share and one-half redeemable warrant, with each whole warrant exercisable at $11.50 for one class A share, according to a statement.

Units started trading on Nasdaq under the ticker "WENNU" on May 16. Class A shares and warrants will begin trading separately under tickers "WENN" and "WENNW," the company said.

The company said that the IPO proceeds were placed in trust.