other material
confidence high
sentiment neutral
materiality 0.55
QDRO Acquisition Corp. completes $200M IPO; trust funded with $200M, shareholders' deficit of $7.1M
QDRO Acquisition Corp.
- IPO of 20,000,000 units at $10.00/unit, each unit = 1 Class A share + 1/2 warrant; gross proceeds $200M.
- Private placement of 6,000,000 warrants at $1.00 to Sponsor and Cantor Fitzgerald, gross $6M.
- $200M placed in trust account; cash outside trust $1.25M, working capital $1.17M.
- Audited balance sheet shows shareholders' deficit of $7.1M and going concern emphasis.
- SPAC with 18 months to complete a business combination; no target selected yet.