GlobeNewswire Inc. · Mar 15, 2022
Nubia Brand International Corp. Announces Closing of Upsized $123,500,000 Initial Public Offering Including Partial Exercise of Over-Allotment Option
DALLAS, TX, March 15, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire -- Nubia Brand International Corp. (the "Company") today announced the closing of its upsized initial public offering of 12,350,000 units at $10.00 per unit, including 1,350,000 units issued pursuant to the partial exercise by the underwriters of their over-allotment option. The units are listed on the Nasdaq Global Market ("Nasdaq") and trade under the ticker symbol "NUBIU". Each unit consists of one share of the Company's Class A common stock and one-half of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one share of Class A common stock at a price of $11.50 per share. 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. No fractional warrants will be issued upon separation of the units and only whole warrants will trade.
