NEW YORK--(BUSINESS WIRE)--Ignyte Acquisition Corp. (NASDAQ: IGNYU) announced that it closed its initial public offering of 5,750,000 units, including the full 750,000 units subject to the underwriters over-allotment option. The units were sold at $10.00 per unit generating total gross proceeds of $57,500,000. The units were listed on the Nasdaq Capital Market (“Nasdaq”) under the ticker symbol “IGNYU” and commenced trading on January 28, 2021. Each unit consists of one share of common stock and one-half of one warrant to purchase one share of common stock at a price of $11.50 per share, subject to adjustment. Once the securities comprising the units begin separate trading, the common stock and warrants are expected to be listed on Nasdaq under the symbols “IGNY” and “IGNYW,” respectively.

EarlyBirdCapital, Inc. acted as the sole book running manager for the offering.

Ignyte Acquisition Corp. is a blank check company organized for the purpose of effecting a merger, capital stock exchange, asset acquisition or other similar business combination with one or more businesses or entities. The Company’s efforts to identify a prospective target business will not be limited to any particular industry or geographic region, although the Company currently intends to focus on target businesses in the life sciences, biotechnology and healthcare sectors. The Company is led by Chairman and Co-Chief Executive