Silver Spike Goes Public On Nasdaq, Announces IPO To Raise $250M

Silver Spike Acquisition Corp II SPKBU is poised to debut on the Nasdaq Capital Market under the ticker symbol “SPKBU” on Thursday, March 11.

The New York-based company disclosed the pricing of its initial public offering of some 25 million of its units at $10 per unit.

According to the company’s update, each unit consists of Class A ordinary share and one-fourth of one redeemable warrant.

Each whole warrant is equal to Class A ordinary share at $11.5 per share.

Silver Spike expects for Class A ordinary shares and redeemable warrants to list on Nasdaq under the symbols “SPKB” and “SPKBW,” respectively, once securities consisting units start to trade separately.

The company confirmed it would pursue merger and acquisition opportunities, among others, within the cannabis space.

Both management teams, as well as the board of directors, are gathered from seasoned experts in the cannabis and finance industry, including founder and CEO Scott Gordon and Director Dr. Orrin Devinsky.

Credit Suisse and Stifel are operating as joint book-running managers for the offering.

Underwriters have a 45-day option to buy up to an additional 3.75 million units at the set price.