© Reuters. IPO for SPAC Monterey Capital Acquisition Corp. (MCAC) Opens at $9.98
Today’s IPO for SPAC Monterey Capital Acquisition Corp. (MCAC) (MCACU) opened for trading at $9.98 after pricing 8,000,000 units at $10.00 per unit.
EF Hutton, division of Benchmark Investments, LLC, is acting as the sole book running manager for the offering.
Monterey Capital Acquisition Corp. is a newly organized blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. While it may pursue an initial business combination target in any business, industry, or geographical location, the Company intends to focus its search on businesses in the clean transition sector. The Company is led by Bala Padmakumar, the Company’s Chief Executive Officer and Chairman of the Board, Vivek Soni, the Company’s Executive Vice President and Director, and Daniel Davis, the Company’s Chief Financial Officer.
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