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On the Fly: The Week in SPAC News » 08:4905/0905/09/21
IPOF, MAAC, VSPR, SKIN, LSAQ, STWO, DKDCA, BRIV, MAQC, VLAT, SNCE
In SPAC news this week,…
B. Riley Principal 250 Merger opens at $10, IPO priced at $10 per unit » 11:1505/0705/07/21
B. Riley Principal 250…
B. Riley Principal 250 Merger Corp., a special purpose acquisition company sponsored by an affiliate of B. Riley Financial (RILY), priced its initial public offering of 15M units at a price of $10.00 per unit and opened for trading at $10. The units are trading on the Nasdaq Capital Market under the ticker symbol "BRIVU." Each unit consists of one share of Class A common stock and one-third of one redeemable warrant, each whole warrant exercisable to purchase one share of Class A common stock at a price of $11.50 per share. Once the securities comprising the units begin separate trading, the shares of Class A common stock and warrants are expected to be listed on Nasdaq under the symbols "BRIV" and "BRIVW," respectively. The company may pursue an initial business combination target in any industry or geographic region, but intends to focus on businesses that "have a history of, or potential for, strong cash flow generation and growing revenue streams, and would benefit from access to public markets and the operational and strategic expertise of its management team and board of directors." B. Riley Securities is acting as the sole book-running manager.