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2021-12-15 05:20
04:15 PM EST, 12/14/2021 (MT Newswires) -- Power & Digital Infrastructure Acquisition II (XPDBU) said late Tuesday it closed its initial public offering of about 28.8 million units at $10 per unit, raising $287.5 million in gross proceeds.
The blank-check company said underwriters fully exercised their overallotment option for 3.75 million units in the offering.
Each unit consists of one class A common stock share and one-half of one redeemable warrant, with each whole warrant exercisable at $11.50 per share, according to the statement.
The units are listed on the Nasdaq under the ticker symbol XPDBU, with the company's common stock and warrants expected to trade under the symbols XPDB and XPDBW, respectively, Power & Digital said.