Market Technology Acquisition Prices $200 Mln IPO

(RTTNews) - Market Technology Acquisition Corp Unit (MTAKU), a special purpose acquisition company, priced its initial public offering of 20 million units at $10 per unit, raising gross proceeds of $200 million.

The offering is expected to close on July 27.

The company granted the underwriter a 45-day option to purchase up to an additional 3 million units at the IPO price to cover over-allotments.

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

Each whole warrant entitles the holder to purchase one Class A ordinary share at an exercise price of $11.50 per share.

The units are expected to begin trading on the Nasdaq Global Market on July 24 under the ticker symbol MTAKU.

Once the securities begin separate trading, the Class A ordinary shares and warrants are expected to trade under the symbols MTAK and MTAKW, respectively.