NEW YORK–(BUSINESS WIRE)–I-AM Capital Acquisition Company (NASDAQ:IAMXU) (“IAM” or the “Company”), a company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or entities, today announced the pricing of its initial public offering (“IPO”) of 5,000,000 units at a price to the public of $10.00 per unit. The units are expected to be listed on The NASDAQ Capital Market (“NASDAQ”) under the symbol “IAMXU” beginning today. Each unit issued in the IPO consists of one share of common stock, one warrant to acquire one share of common stock at an exercise price of $11.50 per share and one right to receive one-tenth (1/10) of one share of common stock upon the consummation of an initial business combination. Once the securities comprising the units begin separate trading, the units will cease trading and the common stock, warrants and rights are expected to be traded on NASDAQ under the symbols “IAM”, “IAMXW” and “IAMXR”, respectively.
Maxim Group LLC is acting as sole book-running manager and Chardan is acting as lead manager for the IPO. IAM has granted the underwriters a 45-day option to purchase up to 750,000 additional units at the initial public offering price to cover over-allotments, if any.
The offering is being made only by means of…