Advancit Acquisition in an amended S-1 filing said it will offer 27.5 million units at $10 each, down from the 35 million units registered in February with the SEC.
A unit consists of one Class A ordinary share and one-third of one redeemable warrant, with whole warrants exercisable at $11.50.
Citigroup is sole book-running manager of the offering. The underwriter has a 45-day option to purchase up to 4.125 million additional units to cover over-allotments, if any.
Advancit will target the media and technology sectors, with a primary focus on North American and European Markets.
The SPAC is led by Chairman Jonathan Miller, who is CEO of Integrated Media Company, a TPG sponsored investment company. He is also an advisor to Advancit Capital.
The SPAC said it will apply for a listing on the Nasdaq under AACOU. Read more.
