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SANTA CLARA - Silver Pegasus Acquisition Corp. (NASDAQ:SPEGU) announced Tuesday it has completed its initial public offering, raising $115 million by selling 11.5 million units at $10 each. The stock currently trades at $10.04, showing remarkable price stability according to InvestingPro data.
The offering, which closed on July 16, included 1.5 million additional units sold through the full exercise of the underwriters’ over-allotment option, according to a company press release.
Each unit consists of one Class A ordinary share and one right that entitles the holder to one-tenth of a Class A share upon completion of the company’s initial business combination.
The units began trading on the Nasdaq Global Market under the ticker symbol "SPEGU" on July 15.
Silver Pegasus is a special purpose acquisition company (SPAC) formed to pursue merger opportunities, with a focus on the semiconductor and systems solutions sectors. As a blank check company, it has no operations and was created specifically to raise capital through an IPO to acquire an existing business. InvestingPro analysis indicates the company maintains a FAIR financial health score of 2.3, though it currently reports negative earnings per share of -$0.03.
Investors seeking deeper insights into SPAC opportunities can access additional analysis and metrics through InvestingPro, which offers exclusive financial health indicators and investment tips.
Roth Capital Partners served as the sole manager for the offering, which was made available through a prospectus following the Securities and Exchange Commission’s declaration of effectiveness for the registration statement on July 14.
The Cayman Islands-based company is led by Chief Executive Officer Cesar Johnston. Like other SPACs, Silver Pegasus will now seek to identify and complete a business combination with an operating company.
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