Benzinga | Jan 29, 2021 08:35AM EST

Clarim Acquisition Prices SPAC To Capitalize On Hot E-Commerce Sector

* Clarim Acquisition Corp. (NASDAQ: CLRMU) has priced 25 million units at $10 per unit, raising $250 million in an initial public offering (IPO) yesterday.

* It becomes the latest SPAC (special purpose acquisition company) to focus on the e-commerce sector, which gained significant traction amidst the pandemic.

* CEO James F. McCann will head the company.

* The units are expected to begin trading on the Nasdaq today, under the symbol "CLRMU." Every unit comprises one share and one-third of one redeemable warrant.

* Jefferies LLC and BTIG, LLC are the book-running managers for the IPO.

* The underwriters have a 45-day option to procure up to an additional 3.75 million units at the IPO price to cover potential over-allotment.

* Last week, EVgo was the newest charging infrastructure company to announce a SPAC deal following the rapid adoption of electric vehicles and infrastructure.