Distoken Acquisition, a SPAc targeting the tech sector in Asia, said in an amended S-1 it now plans to offer 5 million units, up from the 4 million units initially registered. This is the SPAC’s fifth amended S-1 ahead of its IPO and the first update since December 2020.
A unit consists of one Class A ordinary share, one right and one-half of one warrant. Each right would be good for one-tenth of a share upon completion of a merger. Whole warrants will be exercisable at $11.50.
Distoken is led by Chairman and CEO Jian Zhang, who is a director or executive at several technology and investment firms, according to the filing.
The SPAC has applied for a Nasdaq listing under DISTU. Read more.