NEW YORK, July 14, 2021 /PRNewswire/ -- TradeUp
Acquisition Corp. (NASDAQ: UPTDU, the "Company") announced today
the pricing of its initial public offering of 4,000,000 units at a
price of $10.00 per unit. The units
are expected to be listed on The NASDAQ Capital Market ("NASDAQ")
and trade under the ticker symbol "UPTDU" beginning on July 15, 2021. Each unit issued in the IPO
consists of one share of common stock and half of one redeemable
warrant, with each whole warrant exercisable to purchase one whole
share of common stock at a price of $11.50 per share. After the securities
comprising the units begin separate trading, the common stock and
warrants are expected to be listed on NASDAQ under the symbols
"UPTD," and "UPTDW," respectively.
The Company has granted the underwriters a 45-day option to
purchase up to an additional 600,000 units at the IPO price to
cover over-allotments, if any.
The offering is expected to close on July
19, 2021, subject to customary closing conditions.
US Tiger Securities, Inc. is acting as the lead book running
manager in the offering. EF Hutton, division of Benchmark
Investments, LLC and R.F. Lafferty & Co., Inc. are acting as
joint book running manager. R.F. Lafferty & Co.,Inc. is also
acting as qualified independent underwriter.
A registration statement relating to these securities has been
filed with the Securities and Exchange Commission ("SEC") and
became effective on July 14, 2021. The offering is being made
only by means of a prospectus, copies of which may be obtained,
when available, by contacting US Tiger Securities, Inc., 437
Madison Avenue, 27th Floor, New York, New York 10022; email:
IB@ustigersecurities.com. Copies of the registration statement can
be accessed through the SEC's website at www.sec.gov.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About TradeUP Acquisition Corp.
TradeUP Acquisition Corp. is a newly organized blank check
company incorporated as a Delaware
corporation formed for the purpose of effecting a merger, capital
stock exchange, asset acquisition, stock purchase, reorganization
or similar business combination with one or more businesses. The
Company has not selected any business combination target and have
not, nor has anyone on its behalf, initiated any substantive
discussions, directly or indirectly, with any business combination
target. The Company's efforts to identify a prospective target
business will not be limited to a particular industry or geographic
region, although the Company intends to focus a search for a target
business in the technology industry.
Forward Looking Statements
This press release includes forward looking statements that
involve risks and uncertainties. Forward looking statements are
statements that are not historical facts. Such forward-looking
statements, including the successful consummation of the Company's
initial public offering or exercise of the underwriter's
over-allotment option, are subject to risks and uncertainties,
which could cause actual results to differ from the forward-
looking statements. The Company expressly disclaims any obligations
or undertaking to release publicly any updates or revisions to any
forward-looking statements contained herein to reflect any change
in the Company's expectations with respect thereto or any change in
events, conditions or circumstances on which any statement is
based.
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SOURCE TradeUP Acquisition Corp.