Gateway Strategic Acquisition Cuts Deal Size by a Third Ahead of $200M IPO


Gateway Strategic Acquisition in an amended S-1 filing said it now plans to offer 20 million units at $10 each, down from the 30 million units initially registered in March. A unit consists of one Class A ordinary share and one-third of a warrant, with whole warrants redeemable for a share at $11.50.

The SPAC will concentrate on the real estate, healthcare and technology sectors, especially companies engaged in digitalization of property management, operations and marketing, data storage & processing infrastructure and online & offline healthcare services. 

The SPAC is led by Co-Founder, Chairman and Director Goodwin Gaw, who has been the chairman, managing principal and co-founder of Gaw Capital Partners since 2005. 

Credit Suisse and Citigroup are joint book-running managers. The underwriters have a 45-day option to purchase up to an additional 3 million units to cover over-allotments, if any.

Gateway Strategic Acquisition has applied to list on the NYSE under GCSA.U. Read more.

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