Aquarius I Acquisition Files for $50M IPO

IPO

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.

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