Advancit Acquisition Corp. I Files for IPO

According to paperwork filed with the sec, Advancit Acquisition Corp. I has filed for its IPO. Furthermore, this deal registers 40.25 million units of securities. However, this figure includes 5.25 million units issuable to the underwriter in order to cover over-allotments, if any. Units will trade on the NASDAQ under the ticker symbol AACOU. The proposed maximum offering price per unit is $10. This puts the proposed maximum aggregate offering price somewhere between $350 to $400.25 million.

Moreover, each unit consists of 1 share of Class A ordinary common stock and 1/3 of 1 redeemable warrant. Each whole warrant entitles is holder to buy one Class A ordinary share at a price of $11.50 per share. However, his price if subject to change, terms, and limitations as described in the pros...

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