Broad Capital Acquisition Corp Announces Pricing of $100 Million Initial Public Offering
January 11, 2022
NEW YORK, Jan. 11, 2022 /PRNewswire/ -- Broad Capital Acquisition Corp (NASDAQ: BRACU, the "Company") announced today that it priced its $100 million initial public offering of 10,000,000 units at $10.00 per unit. The units are expected to be listed on The NASDAQ Global Market ("NASDAQ") and trade under the ticker symbol "BRACU" beginning today January 11, 2022. Each unit consists of one share of common stock and one right to receive one-tenth of one share of common stock upon the consummation of an initial business combination. Once the securities comprising the units begin separate trading, the common stock and rights are expected to be listed on NASDAQ under the symbols "BRAC," and "BRACR," respectively.
The underwriters have been granted a 45-day option to purchase up to an additional 1,500,000 units offered by the Company to cover over-allotments, if any.
The offering is expected to close on January 13, 2022, subject to customary closing conditions.
Chardan acted as sole book running manager in the offering.
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