Midland-based company, Warrior Technologies Acquisition (WARR), released a report that its initial public offering of 27.6 million units closed at $10 per unit, resulting in a $276 million return.
The offering also included an underwriter over-allotment option; this is a common practice that allows the sale of additional shares a company plans to issue in an initial public offering.
Units for WARR began trading last month on Feb. 26. Each unit consists of one share of Class A common stocks and one-half of one warrant.
Each full warrant of a Class A common stock will enable a holder to purchase one share of WARR's stocks at the price of 11.50 per share and only whole warrants will be eligible for trade. No fractional warrant will be issued upon separation.
Shares of WARR's Class A common stock and warrants first began trading in late February under the symbols "WARR" and "WASS.WS" respectively.