Melar Acquisition Corp. I announced the pricing of its $150 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “MACIU”, Tuesday, June 18, 2024.
The new SPAC aims to combine with a company in retail finance, specialty finance or financial technology specifically targeted at helping small businesses transact payments and make sustainable investments.
Melar I’s sponsor team will be led by CEO and Chairman Gautam Ivatury, CFO Edward Lifshitz and COO Eric Lifshitz. Dan Rosen, Ken Ruggiero and Tara Kenney are to serve as Board Directors.
Total SPAC deal count for 2024 year-to-date is now 14. This offering is expected to close on Thursday, June 20, 2024.
Cohen & Company Capital Markets is acting as lead book-running manager with Seaport Global Securities acting as joint book runner for the offering. Ellenoff Grossman & Schole LLP is serving as Issuer’s Counsel with Morgan Lewis & Bockius LLP serving as Underwriter’s Counsel. WithumSmith+Brown serves as auditor. Continental Stock Transfer & Trust Company is acting as trustee.
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