Atlantic Coastal Acquisition Corp. today announced the closing of its initial public offering of 30,000,000 units at $10.00 per unit. The units are listed on the Nasdaq Stock Market and trade under the ticker symbol “ACAHU”.
Each unit consists of one share of Class A common stock of the Company and one-third of one warrant. Each whole warrant entitles the holder thereof to purchase one share of Class A common stock of the Company at a price of $11.50 per share. Only whole warrants are exercisable. Once the securities comprising the units begin separate trading, the shares of Class A common stock and warrants are expected to be listed on the NASDAQ Capital Market under the symbols “ACAH” and “ACAHW,” respectively.
The Company is a newly incorporated blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. The Company is led by Shahraab Ahmad, Chief Executive Officer, Burt Jordan, President, and Tony Eisenberg, Chief Strategy Officer.
