SUMA Acquisition opens at $9.99, IPO priced at $10 per unit

SUMA Acquisition (SUMA) Corporation priced its initial public offering of 15M units at a price of $10.00 per unit. The company’s units are listed on the Nasdaq Global Market under the symbol “SUMAU”. Each unit issued in the offering consists of one Class A ordinary share of the company and one right to receive one-fifth of a Class A ordinary share upon the consummation of the company’s initial business combination. Once the securities comprising the units begin separate trading, the Class A ordinary shares and rights are expected to be listed on NASDAQ under the symbols “SUMA” and “SUMAR,” respectively. The blank check company may pursue an initial business combination target in any industry or geographical location, but intends to focus its search in the United States and other developed markets across several technology-enabled sectors. Seaport Global Securities acted as the lead book-running manager for the offering.