UNSDG Acquisition registered with the SEC to raise up to $100 million through an offering of 10 million units, each consisting of one share of Class A common stock and one-half of one redeemable warrant. Whole warrants will be exercisable at $11.50.
Kingswood Capital Markest is sole book-running manager for the offering. The underwriters have a 45-day option to purchase up to an additional 1.5 million units to cover over-allotments, if any.
Sponsor UNSDG Acquisition LLC has agreed to purchase an aggregate of up to 635,000 private placement units at $10 per unit.
Management in the filing said the new SPAC intends to focus on decarbonization, sustainable mining, renewable energy, blockchain, commodity trade sectors and the technologies with applications in those sectors.
UNSDG is led by Chairman and Director James Boettcher, who founded Focus Ventures in 1996. CEO Jeffrey Premer is also the chief executive and a director of Vaultex, a regulated security token and asset exchange based in Singapore. He founded and manages ICM, a Singapore-based private advisory firm and business development company.
The SPAC said it has applied for a Nasdaq listing but did not include a ticker symbol in the S-1 filing. Read more.
