Draper Oakwood Technology Acquisition Files For $50 Mln IPO

(RTTNews) - Draper Oakwood Technology Acquisition Inc., a blank check company , on Friday filed with the Securities and Exchange Commission to raise $50 million in an initial public offering.

The company, which founded in 2017, plans to raise $50 million by offering 5 million units at a price of $10. Each unit consists of one share of Class A common stock, one warrant exercisable at $11.50 and one right entitling the holder to one-tenth of one share.

The San Mateo, California-based company plans to list the units, and the shares of Class A common stock, rights and warrants once they begin separate trading, will be listed on Nasdaq under the symbols "DOTAU," "DOTA," "DOTAR" and "DOTAW," respectively.

EarlyBirdCapital, Inc. is the sole bookrunner on the deal.