Fintech, Energy-Centric SPACs Together Raise $400M In IPOs

By Elise Hansen (September 3, 2021, 7:19 PM EDT) -- A pair of blank-check companies, one focused on technologies such as financial technology and the other on energy-transition technologies, made their debuts Friday in initial public offerings that raised a combined $400 million.

Florida-based Digital World Acquisition Corp. raised $250 million by selling 25 million units at the traditional price of $10 apiece, while Oxus Acquisition Corp. sold 150 million units for a $150 million debut. Both companies are trading on the Nasdaq Global Market, where Digital World's units opened at $9.99 on Friday and Oxus opened at $10.05.

Both companies are special-purpose acquisition companies, or SPACs — also called blank-check...

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