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

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.

Total
0
Shares
Related Posts
Read More

SEP Acquisition Faces Nasdaq Delisting

Formerly Mercury Ecommerce Acquisition, which raised $170 million in a July 2021 IPO, the SPAC was renamed in January. Ahead of the SPAC's last extension vote, about 16.7 million shares were redeemed out of slightly more than 18 million shares outstanding.