Aquarius I Acquisition registered with the SEC to offer 5 million units at $10 each. A unit consists of one ordinary share, one redeemable warrant, and one right to receive one-tenth (of an ordinary share upon completion of an initial business combination. Two warrants entitle the holder to purchase one-half of one ordinary share at $11.50, and each ten rights entitle the holder to receive one ordinary share at the closing of a business combination.
The new SPAC in the filing said it iwll target high growth businesses with enterprise values between $150 million and $300 million.
Sponsored by Lion Group, an online trading platform, Aquarius I is led by Director and CEO Sze Hau Lee, who is CFO of Lion Group Holding Ltd.
Maxim Group is sole book-running manager of the offering. The underwriters have a 45-day option to purchase an additional 750,000 units to cover over-allotments, if any.
The SPAC has applied for a Nasdaq listing under AQUI. Read more.