Murphy Canyon Acquisition Corp. Announces Full Exercise of Underwriters' Over-Allotment Option in Public Offering

Feb 04, 2022

SAN DIEGO, CA / ACCESSWIRE / February 4, 2022 / Murphy Canyon Acquisition Corp. (NASDAQ:MURFU) (the "Company") announced that the underwriters in its initial public offering exercised their full over-allotment option and today purchased an additional 1,725,000 units at $10.00 per unit. The gross proceeds from the full option exercise were $17,250,000 million before deducting underwriting discounts and expenses. Each unit consists of one share of Class A common stock, par value $0.0001 per share, of the Company ("common stock") and one redeemable warrant, with each whole warrant entitling the holder thereof to purchase one share of common stock at a price of $11.50 per share. Only whole warrants are exercisable.

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