Southern Cross Acquisition II said late Tuesday it has priced its initial public offering of 7.5 million units at $10 per unit.

Underwriters have been granted a $5-day option to purchase up to about 1.1 million additional units.

Each unit consists of one ordinary share, one redeemable warrant and one right to receive one-fourth of an ordinary share upon consummation of an initial merger, the blank-check firm said.

The units will begin trading on Nasdaq this Wednesday under the ticker symbol, "SCATU."

Once the securities comprising the units begin trading separately, the ordinary shares, warrants and rights are expected to be listed on Nasdaq under the ticker symbols, "SCAT," "SCATW," and "SCATR," respectively.

The offering is set to close Thursday.