NEW YORK, June 7, 2018 /PRNewswire/ -- Chardan Capital Markets ("Chardan"), a leader in Special Purpose Acquisition Company ("SPAC") IPOs, announced today that the firm acted as sole book-runner in the IPO of Trident Acquisitions Corp. (NASDAQ: TDACU), raising an aggregate of $201,250,000. Trident began trading on the NASDAQ Capital Market on May 30, 2018.
The deal represents Chardan's fifth SPAC IPO in 2018 and 20th over the past three years, placing the firm as the top investment bank for SPAC IPOs, based on deal volume, for 2016, 2017, and 2018 year-to-date.
"We're proud to have successfully brought more SPACs to market than any other institution over the past three years," said Jonas Grossman, President of Chardan Capital Markets. George Kaufman, Head of Banking added, "Our team's experience and dedication to SPACs ensures that our issuers are well positioned to execute their acquisition strategies and access the capital markets throughout their lifecycles."
In addition to Trident Acquisitions Corp., in 2018 Chardan successfully lead initial public offerings for VectorIQ Acquisition Corp., Tiberius Acquisition Corp., Opes Acquisition Corp. and Mudrick Capital Acquisition Corp. for a combined IPO value of $934 million. According to Chardan's calculations, the total U.S. SPAC market is on pace to hit $12.9 billion in gross proceeds for the 2018 fiscal year.
About Chardan Capital Markets
Chardan Capital Markets ("Chardan") provides a full suite of Global Investment Banking services designed for micro, small and mid-cap emerging growth companies. Our full range of services includes capital raising, merger and acquisition advisory, strategic advisory, equity research, institutional trading and market making. Headquartered in New York City, Chardan is a registered broker-dealer with the U.S. Securities and Exchange Commission and is a member of the following: FINRA, SIPC, NASDAQ and the NYSE Arca, Inc.
To learn more about Chardan Capital Markets, visit www.chardancm.com
Emily Levine, Chardan Capital Markets
Thomas J. Rozycki Jr., Prosek Partners
SOURCE Chardan Capital Markets, LLC