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Arbor Rapha Capital Bioholdings Corp. I (NASDAQ: ARCKU) announced that starting December 20, 2021, investors can separately trade shares of Class A common stock and redeemable warrants initially sold in their IPO. The IPO comprised 17,250,000 units, including the issuance of 2,250,000 units from the underwriter's full exercise of their option. Units not separated will continue trading under the symbol 'ARCKU,' while separated shares will trade under 'ARCK' for common stock and 'ARCKW' for warrants. Investors must contact their brokers to facilitate this separation process.
Arbor Rapha Capital Bioholdings Corp. I (NASDAQ: ARCKU) has successfully closed its initial public offering of 17,250,000 units at $10.00 per unit, raising approximately $172.5 million. This includes 2,250,000 units from the underwriters' over-allotment option. Each unit comprises one share of Class A common stock and one-third of a redeemable warrant, allowing the purchase of one share of Class A stock at $11.50. The securities began trading on October 29, 2021, and will separate into individual components under new symbols on Nasdaq.
