MAC Alpha is the latest shell from Marwyn and it joined the standard list on Christmas eve. It is unclear whether this has been rushed out ahead of the changes in standard list regulations, which mean that tiny flotations like this will not be eligible for the standard list. The company was formed on 11 October 2021.

Each share came with a warrant exercisable at 100p, or the share price used for an acquisition if that is lower. Sponsor Marwyn retains 90% of the company. The sponsor has agreed to a forward purchase agreement to subscribe for up to £20m of A shares with warrants. This share ...