Galata Acquisition today registered with the SEC to offer 12.5 million units at $10 each. A unit consists of one Class A ordinary share and one-half of one warrant; whole warrants exercisable at $11.50.
The new SPAC plans to focus on technology-enabled financial services businesses in emerging markets, especially companies engaged in insurance, reinsurance and insurance services, asset management, retail or investment banking, and merchant acquisition and payment processing.
Galata is led by CEO and Director Kemal Kaya, a prominent figure in Turkish banking. Since 2008, Kemal has served as a senior advisor to The Blackstone Group.
The SPAC intends to apply for a NYSE listing under GLTA.U. Read more.
