Inception Growth Acquisition registered with the SEC to offer 9 million units at $10 each. A unit consists of one share of common stock and three-quarters of one redeemable warrant, with whole warrants exercisable at $11.50 for one share.
The new SPAC is focused on technology, media and telecom (TMT) businesses in the United States and Asia.
Inception Growth is led by CEO Paige E. Craig, an angel investor who has invested in over 110 start-ups in the last 7 years. Some of his early investments include technology companies such as Lyft, Wish, Postmates, Angellist, Twitter and Classpass.
EF Hutton and Brookline Capital Markets are joint book-runners on the deal. The underwriters have a 45-day option to purchase up to 1,350,000 additional units to cover over-allotments, if any.
The SPAC has applied for a Nasdaq listing but has not selected a ticker symbol. Read more.
