Asia-focused SPAC Seven Islands, led by James Murdoch, registered with the SEC to offer 30 million units at $10 each. A unit consists of one Class A ordinary share and one-fourth of one redeemable warrant; whole warrants exercisable at $11.50.
The underwriters have a 45-day option to purchase up to an additional 4.5 million units to cover any over-allotments.
Seven Islands in the filing said it intends “to capitalize on the extensive experience of our sponsor group and management team to pursue an initial business combination in the media, entertainment, consumer technology, healthcare, and education industries in Southeast and South Asia, with a particular focus on India.”
Murdoch, who was CEO of 21st Century Fox from 2015-2019, is the younger son of media mogul Rupert Murdoch. Seven Islands partner Uday Shankar is the former CEO of STAR India and chairman of The Walt Disney Company’s India businesses.
The new SPAC has applied to list on the Nasdaq under SVNIU. Read more.
