Evo Acquisition Corp. closed its initial public offering of 12,500,500 units, at $10.00 per unit, including 1,630,500 units pursuant to the full exercise of the underwriters’ over-allotment option. The offering was priced at $10.00 per unit, resulting in gross proceeds of $125,005,000.
While the Company may pursue an initial business combination target in any business or industry, it intends to focus its search on companies in the technology and financial sectors, including companies with a nexus to Japan. The company is led by its chairman, Michael Lerch, its chief executive officer, Richard Chisholm, and its chief financial officer, Adrian Brindle.
The Company’s units began trading on the Nasdaq Capital Market under the ticker symbol “EVOJU” on February 9, 2021. Each unit issued in the offering consists of one share of the Company’s Class A common stock and one-half of one redeemable warrant, each whole warrant entitling the holder thereof to purchase one share of Class A common stock at an exercise price of $11.50 per share. No fractional warrants will be issued upon separation of the units and only whole warrants will trade. After the securities comprising the units begin separate trading, the shares of Class A common stock and warrants are expected to be listed on NASDAQ under the symbols “EVOJ” and “EVOJW,” respectively.
B. Riley Securities Inc. and SMBC Nikko Securities America Inc. acted as book-running managers of the offering