Thunder Bridge Acquisition II Ltd., a blank check company, priced its IPO of 30 million units at $10.00 per unit.
Each unit consists of 1 of the company's class A ordinary shares and one-half of 1 redeemable warrant. Only whole warrants are exercisable, with each whole warrant entitling the holder to purchase one class A ordinary share at $11.50.
The units will be listed on the Nasdaq Capital Market and will begin trading Aug. 9 under the ticker symbol THBRU. Once the securities comprising the units begin separate trading, the class A ordinary shares and warrants are expected to be listed on the Nasdaq Capital Market under the symbols THBR and THBRW, respectively.
Morgan Stanley & Co. LLC and Cantor Fitzgerald & Co. are acting as joint book-running managers for the offering. The company has granted the underwriters a 45-day option to purchase up to an additional 4.5 million units at the IPO price to cover any overallotments.
While Thunder Bridge Acquisition II may pursue an initial business combination target in any business or industry, it intends to focus its search on companies in the financial technology sector, according to a news release.