ALCHEMY INVTS ACQUISITN 1 Stock Price, News & Analysis

Alchemy Investments Acquisition Corp 1 (NASDAQ: ALCY) is a blank check company, also known as a special purpose acquisition company (SPAC), formed with the intent of merging, acquiring, or reorganizing with one or more businesses. The company successfully priced its initial public offering (IPO) at $10.00 per unit on May 4, 2023, bringing in gross proceeds of $115 million before expenses. The units began trading on the Nasdaq Global Market under the ticker symbol 'ALCYU' on May 5, 2023. Each unit consists of one Class A ordinary share and one-half of one warrant, with each whole warrant allowing the purchase of one Class A ordinary share at $11.50 per share.

The IPO was executed with Cantor Fitzgerald & Co. acting as the sole book runner, and an option was granted to the underwriter to purchase an additional 1,500,000 units to cover over-allotments, which was fully exercised. The company's leadership team includes Steven M. Wasserman as Non-Executive Chairman, Mattia Tomba and Vittorio Savoia as Co-Chief Executive Officers, and Harshana Sidath Jayaweera as Chief Financial Officer. On June 26, 2023, Alchemy Investments Acquisition Corp 1 announced that holders of its units could separate their units into individual Class A ordinary shares and warrants, which would trade separately under the ticker symbols 'ALCY' and 'ALCYW'.

In an effort to strengthen its advisory team, the company recently added Sheikha Noor Al Thani, founder and managing partner of The Private Investment Office, a GCC-based family office. Her extensive background includes serving as Finance Manager at the Qatar Sovereign Fund.

The company is dedicated to identifying and capitalizing on opportunities across diverse industries and geographic regions, thereby providing significant value and growth potential to its investors.