HYMC - Distressed debt SPAC Mudrick Capital Acquisition II prices upsized $275M IPO

Mudrick Capital Acquisition Corporation II (MUDSU) has priced upsized initial public offering of 27.5M units at $10/unit.The company upsized its offering from $250M but downsized from the original offering of $300M. Units will kick-off trading today on Nasdaq.Each unit consists of one share of Class A common stock and one-half of one redeemable warrant at $11.50/share. Offering is expected to close on December 10. Underwriters' over-allotment is an additional 4.125M units.The company intends to focus its search on post-restructured and distressed companies.Mudrick's previous SPAC went public in February of 2018 and recently closed on its acquisition of Hycroft Mining Holding (HYMC) in May 2020.

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Distressed debt SPAC Mudrick Capital Acquisition II prices upsized $275M IPO