Broad Capital Acquisition registered to offer 10 million units priced at $10 each. A unit consists of one share of common stock and one right to receive one-tenth of a share. The offering does not include warrants.
The new SPAC plans to target tech companies engaged in AI, machine learning, electric and hybrid propulsion, advanced materials and manufacturing technologies, control systems, advanced telecommunications, autonomous flight operations, networked satellite systems as well as other evolving technologies.
Broad Capital is led by CEO Johann Tse, founder of Aquarian Capital, which advises corporate buyers and sellers worldwide on M&A transactions. Previously, Tse was the Director of International M&A with Yum! Brands where he led acquisitions, divestitures and franchising transactions.
The SPAC has applied to list on the Nasdaq under BRACU.
Chardan, the underwriter for the offering, has an over-allotment option to purchase up to 1.5 million additional units. Read more.
