A SPAC I Acquisition registered to offer 8 million units at $10 each. A unit consists of one share and one right to receive one-tenth of a share at the closing of a business combination.
The new SPAC will target the technology and e-commerce industries with a focus in Asia and on companies with an enterprise value of between $200 million and $600 million.
CEO, CFO and Director Claudius Tsang was co-head of private equity, North Asia of Templeton Asset Management and a partner of Templeton Private Equity Partners, part of Franklin Templeton Investments.
Chardan is sole book-running manager. The underwriters have the option to purchase up to 1.2 million additional units to cover over-allotments, if any.
The SPAC has applied to list on the Nasdaq under ASPAU. Read more.