On February 3, 2023, Pryor Cashman client Cetus Capital Acquisition Corp. closed its initial public offering (IPO) of units. Each unit consists of one share of the company's Class A common stock, one redeemable warrant, and one right. The offering yielded gross proceeds of $57.5 million, including the exercise by the underwriters of their over-allotment option in full, prior to deducting underwriting discounts, commissions, and other offering expenses

The units began trading on the Nasdaq Capital Market under the ticker symbol “CETUU” on February 3, 2023, and it is anticipated that the securities comprising the units will begin separate trading on the Nasdaq Capital Market in late March 2023.

Cetus Capital, a special purpose acquisition company, is led by Chung-Yi Sun, the company's Chief Executive Officer, President, and Chairman of the Board of Directors.

Pryor Cashman Partners Michael Campoli, a member of the firm's Corporate Group, and Elizabeth F. Chen, Chair of the firm's China Group, served as legal counsel to Cetus Capital, with assistance from Associate Yingkai Luo.

Learn more about the IPO in the company's statement, linked below.


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