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Ribbon Acquisition Corp (NASDAQ: RIBBU) has successfully completed its initial public offering (IPO) of 5,000,000 units at $10.00 per unit, raising $50 million. Each unit comprises one Class A ordinary share and one right to receive one-seventh of one Class A ordinary share upon completing an initial business combination.
The units began trading on NASDAQ under 'RIBBU' on January 15, 2025. The ordinary shares and rights will later trade separately under 'RIBB' and 'RIBBR' respectively. A.G.P./Alliance Global Partners served as the sole book-running manager, with The Benchmark Company as co-manager. The underwriters have a 45-day option to purchase up to 750,000 additional units to cover over-allotments.
Ribbon Acquisition Corp, a Cayman Islands-based blank check company, has announced the pricing of its initial public offering (IPO) of 5,000,000 units at $10.00 per unit. Each unit comprises one Class A ordinary share and one right to receive one-seventh of one Class A ordinary share upon completing an initial business combination.
The units will trade on Nasdaq under the symbol 'RIBBU' starting January 15, 2025, with the IPO expected to close around January 16, 2025. Once separate trading begins, the Class A shares and rights will trade under 'RIBB' and 'RIBBR' respectively.
A.G.P./Alliance Global Partners is the sole book-running manager, with The Benchmark Company as co-manager. The underwriters have a 45-day option to purchase up to 750,000 additional units to cover over-allotments.
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