Cannabis-Focused SPAC Relativity Acquisition Corp. Prices Its IPO At $125 Million

Blank check company Relativity Acquisition Corp. priced its initial public offering of 12.5 million units at a price of $10.00 per unit, with each unit consisting of one share of common stock and one redeemable warrant. Each warrant will entitle the holder thereof to purchase one share of common stock at $11.50 per share.

The units are expected to trade on The Nasdaq Global Market under the ticker symbol “RACYU” beginning February 11. The company expects the initial public offering to close on February 15, subject to customary closing conditions.

Once the securities comprising the units begin separate trading, the common stock and the warrants are expected to be traded on NASDAQ under the symbols “RACY” and “RACYW,” respectively.

Relativity Acquisition Corp. is a blank check company sponsored by Relativity Acquisition Sponsor LLC, a Delaware limited liability company, 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 intends to focus on businesses in the legalized cannabis industry, including related industries such as consumer packaged goods, health & wellness, technology, pharmaceuticals, manufacturing, distribution, logistics and brand management.

The management team and board of directors are composed of veteran cannabis and finance industry executives, led by founder, chairman and CEO Tarek Tabsh, known for his role as co-founder of pharmaceutical company Oxford Cannabinoid Technologies and 15 years of cannabis investing and industry experience.