Apollo Acquisition registered to offer 4 million units at $10 each. A unit consists of one Class A ordinary share, one-half of a redeemable warrant and one right to receive one-tenth of one share upon closing on a business combination. Whole warrants would be exercisable at $11.50.
The new SPAC will target companies within the Internet and technology sectors, including blockchain infrastructure and software services.
Apollo Acquisition is led by Bin (Brian) Lin, who has been chairman of Beijing Huitu Technology, which develops and sells water resources application software and products, since December 2013.
Tiger Brokers is lead book-running manager. EF Hutton is joint book-running manager. The underwriters have an over-allotment option to purchase up to an additional 600,000 units.
The SPAc said it will apply to list on the Nasdaq under APOAU. Read more.
