Aetherium Acquisition Corp., a newly organized special purpose acquisition company (SPAC) based in Greenwich, has announced the pricing of its initial public offering (IPO) of 10 million units at an offering price of $10.00 per unit.
Each unit consists of one share of Class A common stock and one redeemable warrant. According to the company, each redeemable warrant entitles the holder thereof to purchase one share of Class A common stock at a price of $11.50 per share.
Beginning today, the Aetherium units will trade on the Nasdaq Global Market under the ticker symbol “GMFIU.” The company expects the IPO to close on Jan. 3, 2022.
Once the securities comprising the units begin separate trading, the Class A common stock and the warrants are expected to be traded on Nasdaq under the symbols “GMFI” and “GMFIW,” respectively.
SPACs, also known as blank check companies, are shell corporations that exist solely to be listed on a stock exchange with the goal of acquiring a private company, thus making it publicly traded without the need of having it go through an IPO process.
