Nubia (NASDAQ: NUBIU) has announced that it priced its initial public offering of 11,000,000 units, each at $10.00. According to the update, the units began trading on the Nasdaq Global Market under the NUBIU ticker symbol on March 11, 2022. Each unit consists of one share of Nubia’s Class A common stock and one-half of one redeemable warrant. Each whole warrant entitles the holder 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 and warrants are expected to be listed on Nasdaq under the symbols NUBI and NUBIW, respectively.
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About Nubia Brand International Corp.
Nubia 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. The company has not selected any specific business combination target and has not, nor has anyone on its behalf, initiated any substantive discussions, directly or indirectly, with any business combination target. While the company may pursue an initial business combination target in any business or industry, it intends to focus its search on wireless telecommunications companies.
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