Alchemy Investments Acquisition 1 Units (Proposed) Stock Price, News & Analysis

Alchemy Investments Acquisition Corp 1 (NASDAQ: ALCYU) is a blank check company, often referred to as a Special Purpose Acquisition Company (SPAC), formed with the purpose of entering into a business combination with one or more businesses. The company's initial public offering (IPO) was priced at $10.00 per unit on May 4, 2023, and it began trading on the Nasdaq Global Market under the ticker symbol 'ALCYU' on May 5, 2023. Each unit comprises one Class A ordinary share and one-half of one warrant, with each whole warrant allowing the holder to purchase one Class A ordinary share at $11.50 per share.

The IPO closed on May 9, 2023, with a total of 11,500,000 units sold, including the full exercise of the underwriters' over-allotment option, raising $115 million in gross proceeds. The offering was managed by Cantor Fitzgerald & Co., acting as the sole book runner.

Alchemy Investments' management team is led by Non-Executive Chairman Steven M. Wasserman, Co-Chief Executive Officers Mattia Tomba and Vittorio Savoia, and Chief Financial Officer Harshana Sidath Jayaweera. The company recently announced that, starting June 26, 2023, holders of the IPO units could opt to trade the Class A ordinary shares and warrants separately under the symbols 'ALCY' and 'ALCYW,' respectively. The units that remain intact will continue to trade under 'ALCYU'.

In addition, Alchemy Investments added Sheikha Noor Al Thani as an advisor. Sheikha Noor, who has a strong background in finance and investment management, is the founder and managing partner of The Private Investment Office and previously served as Finance Manager at Qatar Sovereign Fund (Qatari Diar).

The company's goal is to identify and merge with businesses or entities across various industries or geographical locations. Forward-looking statements in their press releases emphasize the potential use of net proceeds and the typical risks associated with such ventures. Investors are advised to consult the company's registration statement and prospectus for a detailed understanding of these risks.

For more information, visit the official press release.