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The Music Acquisition Corporation Closes $230 Million IPO

· 02/05/2021 08:11

01:08 PM EST, 02/05/2021 (MT Newswires) -- The Music Acquisition Corporation (TMAC) has closed its initial public offering of 23 million units at $10 each for gross proceeds of $230 million.

The company's units are listed on the New York Stock Exchange and began trading under the ticker symbol TMAC.U Feb. 3.

Each unit consists of one share of class A common stock and one-half of one redeemable warrant, with each whole warrant exercisable to purchase one share of class A common stock at $11.50 per share. When the securities making up the units begin separate trading, the shares of common stock and warrants will be listed under the symbols TMAC and TMAC WS, respectively.