Karman Line Acquisition Prices $200 Mln IPO At $10/Unit

(RTTNews) - Karman Line Acquisition Corp. (XTER), a special purpose acquisition company, on Monday priced its initial public offering of 20 million units at $10 per unit.

The offering is expected to raise $200 million.

The units are expected to begin trading on Nasdaq under the ticker XTERU on August 18.

The offering is expected to close on August 19.

The company said each unit consists of one Class A ordinary share and one-half of a redeemable warrant.

The company also said that each whole warrant entitles the holder to purchase one Class A ordinary share at $11.50 per share.

The company also granted underwriters a 45-day option to purchase up to 3 million additional units to cover over-allotments.