Silver Pegasus closes $115 million IPO after underwriters exercise option

Silver Pegasus Acquisition Corp. (NASDAQ: SPEGU) completed its initial public offering of 11.5 million units on July 16, raising $115 million after underwriters exercised their over-allotment option in full.

The special purpose acquisition company priced each unit at $10.00. Each unit consists of one Class A ordinary share and one right that entitles the holder to one-tenth of one Class A share upon completion of the company's initial business combination.

The offering included an additional 1.5 million units sold to cover over-allotments. The units began trading on the Nasdaq Global Market under the ticker symbol "SPEGU" on July 15.

Roth Capital Partners served as the sole manager for the offering. The Securities and Exchange Commission declared the registration statement effective on July 14.

Silver Pegasus is a blank check company incorporated in the Cayman Islands. The company was formed to pursue a merger, acquisition, or similar business combination with one or more businesses, with a focus on semiconductors and systems solutions.

The company has not yet identified a target for its initial business combination, according to the press release.

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