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Avalon Acquisition Inc. (NASDAQ GM: AVACU) announced that starting December 3, 2021, unit holders from its IPO can trade shares of Class A common stock and warrants separately. The individual components will trade under the symbols 'AVAC' for the shares and 'AVACW' for the warrants, while units not separated will continue under 'AVACU'. This follows the effectiveness of a registration statement by the SEC. The press release emphasizes that there is no offer to buy or sell units in jurisdictions where such actions would be illegal.
Avalon Acquisition Inc. has successfully closed its initial public offering (IPO) of 20,700,000 units, raising $207 million, which included the underwriters' full over-allotment option. Each unit comprises one share of Class A common stock and three-fourths of a redeemable warrant. The IPO units started trading on Nasdaq under the symbol 'AVACU' on October 6, 2021. The firm intends to pursue mergers and acquisitions in the financial services and technology sectors. A significant portion of the proceeds, $210.1 million, will be placed in trust for future business combinations.
