Fat Projects Acquisition registered with the SEC to offer 10 miillion units at $10 each. A unit consists of one Class A ordinary share and one-half of one redeemable warrant; whole warrants exercisable for a share at $11.50.
EF Hutton 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.
The new SPAC in the filing said, “we intend to focus our search on a target with operations or prospective operations that is technology-led in the areas of supply chain, transportation, logistics, finance, sustainability/ESG, food, agriculture, e-commerce, big data and/or take advantage of the monetization opportunities stemming from a rapidly growing middle class and their evolving consumption and digital needs in Southeast Asia.”
The SPAC is led by CEO and Chairman Tristan Lo, who is a managing partner of Fat Projects Pte. Ltd., an affiliate of the sponsor.
Fat Projects has applied for a Nasdaq listing but has not yet selected a ticker symbol. Read more.
