Shares of Cantor Equity Partners III (CAEP) are soaring 6.50% in early trading on Thursday, marking a strong debut for the blank-check company following its initial public offering (IPO). The impressive gain comes as investors show enthusiasm for the newly listed shares on the Nasdaq.
The company announced on Wednesday that it had priced its upsized IPO at $10 per share, with a total of 24 million shares offered. This brings the total value of the offering to $240 million, signaling strong demand from investors. The IPO is expected to close on Friday, solidifying CAEP's position in the market.
Adding to the positive sentiment, underwriters have been granted a 45-day option to purchase up to an additional 3.6 million shares. This overallotment option could potentially increase the total proceeds from the IPO, further boosting investor confidence in the stock. The strong market reception and the substantial size of the offering are likely contributing factors to CAEP's significant price increase in its first day of trading.
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