Ark Global Acquisition Corp. has closed its upsized initial public offering. It sold 34,500,000 units, including 4,500,000 units issued pursuant to the full exercise of the underwriters’ over-allotment option, at a price to the public of $10.00 per unit resulting in gross proceeds of $345,000,000. The units began trading on The Nasdaq Capital Market under the symbol “ARKIU” on February 5, 2021. Each unit issued in the IPO consists of one share of Class A common stock and one-fourth of one warrant to acquire one share of Class A common stock at an exercise price of $11.50 per share upon the consummation of an initial business combination. 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 “ARKI” and “ARKIW,” respectively.
Jefferies LLC acted as the sole book-running manager for the IPO.