Figma Shares Indicated To Open $105/$110
NEW YORK - UY Scuti Acquisition Corp. (NASDAQ:UYSCU), a special purpose acquisition company currently trading at $10.16 with a market capitalization of $60.73 million, has announced that starting Tuesday, May 27, 2025, the units from its initial public offering (IPO) can be traded separately as shares and rights on the Nasdaq Capital Market. The units, initially offered through an IPO of 5,750,000 units, will allow holders to trade the ordinary shares and rights as separate securities under the tickers "UYSC" for the shares and "UYSCR" for the rights.According to InvestingPro analysis, the stock demonstrates notably low price volatility, trading within a narrow range between its 52-week low of $10.05 and high of $10.19.
The company has directed unit holders interested in separating their units into shares and rights to instruct their brokers to contact the company’s transfer agent, Continental Stock Transfer & Trust Company, to facilitate the process. The IPO units that are not separated will continue to trade on Nasdaq under the symbol "UYSCU."
UY Scuti Acquisition Corp. was established in the Cayman Islands as a blank check company, with the primary objective of effecting a merger, capital stock exchange, asset acquisition, or similar business combination with one or more businesses. The company’s IPO was managed by Maxim Group LLC, serving as the sole book-running manager and representative of the underwriters. Like most SPACs at this stage, the company does not pay dividends to shareholders while seeking potential acquisition targets.
The registration statement for these securities was declared effective by the Securities and Exchange Commission (SEC) on March 31, 2025, and is accessible on the SEC’s website.
This press release contains forward-looking statements, which are not historical facts and involve risks and uncertainties. These statements reflect the company’s current expectations concerning its search for an initial business combination. The company has cautioned that actual results could differ materially from those projected in the forward-looking statements due to various risks and uncertainties, as detailed in the Risk Factors section of the company’s registration statement and final prospectus filed with the SEC. UY Scuti Acquisition Corp. has also stated that it does not undertake any obligation to publicly update or revise any forward-looking statements, except as required by law.
The information in this article is based on a press release statement from UY Scuti Acquisition Corp.
In other recent news, UY Scuti Acquisition Corp has reported significant financial developments following its initial public offering (IPO). The company successfully completed its IPO by selling 5 million units at $10 each, generating $50 million in gross proceeds. Each unit includes one ordinary share and a right to receive one-fifth of a share upon a future business combination. In conjunction with the IPO, UY Scuti Acquisition Corp conducted a private placement with its sponsor, UY Scuti Investments Limited, selling 227,500 units at the same price, which contributed an additional $2.275 million to its funds. This amount includes a $275,000 debt cancellation. The underwriters also exercised a portion of their over-allotment option, purchasing an additional 357,622 units and bringing in $3.576 million more. As a result, the trust account’s balance has reached approximately $53.576 million. An audited balance sheet as of April 1, 2025, reflecting these proceeds, was released and filed with the SEC. These developments are part of UY Scuti Acquisition Corp’s efforts as it continues its business strategy of effectuating mergers or similar business combinations.
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