Singularity Acquisition registered to offer 10 million units at $10 each. A unit onsists of one share and one-half of one redeemable warrant, with whole warrants exercisable at $11.50.
The new SPAC plans to target businesses within Asia, especially on companies within the information technology and technology-enabled sectors.
Singularity is led by Director and CEO Erlu Lin, who is managing partner at Decent Capital, a private equity fund focused on the technology, enterprise services, consumer and retail sectors in Asia.
The SPAC changed its name from Constellation Acquisition Company to Singularity in June.
Tiger Brokers and EF Hutton are the book-running managers. The underwriters have an option to purchase up to 1.5 million additional units to cover any over-allotments.
Singularity has applied for a Nasdaq listing, but has not yet selected a ticker symbol.
