NEW YORK--(BUSINESS WIRE)--Bite Acquisition Corp. announced the closing of its initial public offering of 17,500,000 units. The offering was priced at $10.00 per unit, generating total gross proceeds of $175,000,000.

The units are listed on the New York Stock Exchange and trade under the ticker symbol “BITE.U.” Each unit consists of one share of the Company’s common stock and one-half of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one share of common stock at a price of $11.50 per share. Once the securities comprising the units begin separate trading, the Company expects that its common stock and warrants will be listed on the New York Stock Exchange under the symbols “BITE” and “BITE WS”, respectively.

The Company is a blank check company formed for the purpose of entering into a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. While the Company may pursue an initial business combination with a company in any sector or geography, we intend to focus our search on the traditional and non-traditional restaurant sectors in North America.

EarlyBirdCapital, Inc. acted as sole book-running manager of the offering. The Company has granted the underwriters a 45-day option to purchase up to an additional 2,625,000 units at the initial public offering price to cover over-allotments, if any.