Special purpose acquisition company Aura FAT Projects Acquisition Corp. (Nasdaq: AFARU) started trading its securities on the Nasdaq Global Market on Wednesday. The firm priced its initial public offering, aiming to raise total proceeds of US$100.0 million.
The offering will entail selling 10.0 million units priced at US$10.00 per unit. Each unit is composed of one Class A common share and one redeemable warrant, each exercisable to purchase one common share at US$11.50 per share.
The company units trade on the Nasdaq big board under the symbol “AFARU”. Once the securities separate, the company shares and warrants will trade under the ticker symbols “AFAR” and “AFARW”, respectively.
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The proposed offering is being managed by EF Hutton as the sole bookrunner. The underwriters were granted a 45-day over-allotment option to purchase additional 1.5 million company units.
The offering is expected to close on April 18, 2022, subject to customary closing conditions.
The Singapore-based blank check company intends to focus its search on “emerging technology companies” in Southeast Asia and Australasia. Tech sectors being considered include Web 3.0, blockchain, cryptocurrency, digital ledger, e-gaming, among others.
Information for this briefing was found via Edgar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
