QDRO Acquisition Corp. Raises $200M in 20M Unit IPO at $10 Apiece
QDRO Acquisition Corp. raised $200M through an IPO of 20M units at $10 apiece, each comprising one Class A share and half a warrant exercisable at $11.50. Cantor Fitzgerald & Co. served as sole bookrunner with a 45-day option for 3M additional units, and trading began March 27 on Nasdaq.
1. IPO Closes at $200M
QDRO Acquisition Corp. closed its initial public offering by issuing 20 million units priced at $10 each, raising total gross proceeds of $200 million. Each unit comprises one Class A ordinary share and one-half of one redeemable warrant.
2. Underwriting and Overallotment Option
Cantor Fitzgerald & Co. acted as sole bookrunner for the offering and has a 45-day option to purchase up to 3 million additional units at the IPO price to cover over-allotments.
3. Trading and Security Structure
Units began trading on March 27 on Nasdaq under ticker QADRU. Once separated, Class A shares and warrants will list under ticker symbols QADR and QADRW, respectively, with each full warrant exercisable at $11.50 per share.
4. Business Focus
The company intends to identify and merge with targets in the financial services, digital currency and technology sectors, deploying IPO proceeds to pursue strategic business combinations.