Blank-Check Company ScION Tech Growth I Files for IPO

ScION Tech Growth I filed paperwork with the SEC to bring their company public. This move registers 57,500,000 units to begin trading on the NASDAQ under the ticker symbol SCOAU. However, this number includes the underwriters' option to purchase up to 7.5 million units in the event of any over-allotments.

Each unit consists of one share of class A common stock as well as 1/3 of 1 warrant. Further, each whole warrant entitles the holder to purchase 1 share of class A common stock at a price of $11.50. The proposed maximum offering price of each unit is $10.

Altogether, ScION Tech Growth I could raise up to $575 million with this deal. Once the securities in the units begin separate trading, shares of class A common stocks will trade under the ticker symbol SCOA, and warrants will t...

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