Founder SPAC Files for $275M IPO

Founder SPAC registered to offer 27.5 million units at $10 each to acquire a tech business engaged in digital transformation. A unit consists of one Class A ordinary share and one-third of one redeemable warrant. Whole warrants will be exercisable at $11.50 for a share.

The SPAC is led by Executive Chairman Hassan Ahmed, who was most recently chairman and CEO of Affirmed Networks, which he co-founded in 2010. CEO Osman Ahmed is an investor at KCK Group, a position he has held since 2015. He was previously the CFO at Beehive3D, a KCK Group Portfolio company. 

Jefferies is sole book-running manager. The underwriter has an over-allotment option to purchase up to 4.125 million additional units.

The SPAC intends to apply for a listing on the Nasdaq under FDSPU. Read more.

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