Each unit offered in the deal includes one share and a warrant for one-third of a share, exercisable at $11.50. Underwriters hold a 45-day window to purchase an additional 3 million units to manage potential over-allotments. The firm plans to trade on the Nasdaq under the ticker symbol MTRL.
In section Market Quotes
Material Resource Acquisition Corp. Targets $200 Million IPO
A new blank-check company is entering the public market with a $200 million fundraising goal. Material Resource Acquisition Corp. filed paperwork with the Securities and Exchange Commission on Monday, signaling its intent to sell 20 million units at $10 apiece to fuel future acquisitions within the global supply chain.
Despite the scale of the offering, the company has not yet initiated formal discussions or selected a specific business combination target. Management intends to focus exclusively on the material supply chain sector, though the path to a merger remains entirely open as the firm begins its search for a partner.
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