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The Music Acquisition Corporation has successfully closed its initial public offering, raising gross proceeds of $230,000,000 by offering 23,000,000 units priced at $10.00 each. The offering includes 3,000,000 units from an exercised over-allotment option. The units, which consist of one share of Class A common stock and one-half of one redeemable warrant, began trading on the NYSE under the ticker symbol TMAC.U on February 3, 2021. The Company intends to focus on the music sector for its initial business combination.
The Music Acquisition Corporation announced its initial public offering (IPO) of 20,000,000 units priced at $10.00 per unit, slated to trade under the ticker symbol TMAC.U on the NYSE starting February 3, 2021. Each unit comprises one share of Class A common stock and one-half of a redeemable warrant, with the full warrant exercisable for one Class A share at $11.50. The IPO's closure is anticipated on February 5, 2021, subject to customary conditions. The Company aims to engage in a business combination related to the music sector, leveraging its expertise.
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