The energy-focused company offered 22.5 million units for subscription, with the IPO priced at $10.
Talon Capital Corp. (TLNCU) debuted on the Nasdaq at $9.98 on Tuesday, edging 0.2% lower compared to the issue price of $10.
At the time of writing, Talon Capital’s units were hovering around $9.98.
The energy-focused company offered 22.5 million units for subscription, with the IPO priced at $10.
Talon Capital is a blank check company, led by Chairman and Chief Executive Officer Charles Leykum, who was a former portfolio manager at Soros Fund Management.
The Special Purpose Acquisition Company (SPAC) plans to target the energy and power sectors, but it also remains open to other industries and sectors.
In its filing with the U.S. Securities and Exchange Commission (SEC), Talon Capital said it intends to effect a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses.
The firm also noted that each unit on offer consists of one Class A ordinary equity share and one-third of a redeemable warrant. Each warrant entitles the holder to subscribe to one equity share at $11.50 apiece. The company said that once its units begin separate trading, it expects the shares to trade under the symbol “TLNC” and warrants under “TLNCW.”
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