NEW YORK, March 31, 2022 /PRNewswire/ -- Redwoods Acquisition Corp. ("RWOD") announced today the pricing of its initial public offering of 10,000,000 units at a price of $10.00 per unit. The units are listed on The Nasdaq Global Market ("Nasdaq") and began trading under the ticker symbol "RWODU" on March 31, 2022. Each unit consists of one share of common stock, one redeemable warrant to purchase one share of common stock at a price of $11.50 per share and one right to receive one-tenth (1/10) of one share of common stock upon the consummation of an initial business combination. After the securities comprising the units begin separate trading, the shares of common stock, warrants and rights are expected to be listed on Nasdaq under the symbols "RWOD," "RWODW" and "RWODR," respectively. The offering is expected to close on April 4, 2022.

Chardan is acting as sole book-running manager of the offering. RWOD has granted the underwriters a 45-day option to purchase up to an additional 1,500,000 units at the initial public offering price to cover over-allotments, if any.

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