LAS VEGAS: Tekkorp Digital Acquisition Corp. announced the pricing of its initial public offering of 25 million units at a price of $10 per unit.
The units will be listed on The Nasdaq Capital Marketand will begin trading tomorrow, Thursday, October 22, 2020, under the ticker symbol “TEKKU”.
Each unit consists of one Class A ordinary share and one-half of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one Class A ordinary share at a price of $11.50 per share.
Only whole warrants are exercisable. Once the securities comprising the units commence separate trading, the Class A ordinary shares and redeemable warrants are expected to be respectively listed on Nasdaq under the symbols “TEKK” and “TEKKW”. The offering is expected to close on October 26, 2020, subject to customary closing conditions.
The Company is a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The Company intends to focus on businesses in the broader digital media, sports, entertainment, leisure and/or gaming industries.
Jefferies LLC is acting as sole book-running manager and Macquarie Capital (USA) Inc. is acting as co-manager. The Company has granted the underwriters a 45-day option to purchase up to an additional 3,750,000 units to cover over-allotments, if any, at the initial public offering price.