Harbour Island Acquisition Corp. I Prices IPO at $10 per Unit, Raising $100 Million
Harbour Island Acquisition Corp. I (HRIA) priced its initial public offering on Tuesday at $10 per unit, raising a total of $100 million by issuing 10 million units. The company also granted underwriters an option to purchase up to 1.5 million additional units within the next 45 days to cover any over-allotments. Each IPO unit includes one share of common stock and a warrant, typical for special purpose acquisition companies (SPACs). This move positions HRIA as it prepares for its upcoming merger with a yet-to-be-named target company. The pricing aligns with the standard $10 per-unit valuation commonly seen in SPAC offerings. The IPO is expected to provide sufficient capital to facilitate future business combinations, though no specific acquisition targets have been disclosed at this time.
Topics: Capital Raising IPO