Maquia Capital Acquisition Corp. has closed the issuance of an additional 1,309,719 units pursuant to the partial exercise of the underwriters’ over-allotment option in connection with the company’s initial public offering. The units are listed on the Nasdaq Capital Market under the ticker symbol “MAQCU.” Each unit consists of one share of the company’s Class A common stock and one-half of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one share of Class A common stock at a price of $11.50 per share. Only whole warrants are exercisable and will trade. Once the securities comprising the units begin separate trading, shares of the Class A common stock, rights and warrants are expected to be listed on Nasdaq under the symbols “MAQC” and “MAQCW,” respectively.
The company is a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. While the Company may pursue an initial business combination target in any business or industry, it intends to focus its search on technology-focused middle market and emerging growth companies in North America. The company is led by chief executive officer, Jeff Ransdell, chief financial officer, Jeronimo Peralta, chief operating officer, Guillermo Cruz, and chief investment officer, Maggie Vo.
Kingswood Capital Markets, division of Benchmark Investments Inc., acted as the sole book running manager for the offering.