TMT Acquisition registered to offer 5 million units at $10 each. A unit consists of one Class A share, one right, and one-half of one redeemable warrant. Each right entitles the holder to receive one-tenth of a share. Whole warrants are exercisable for a share at $11.50.
The Asia-foused SPAC did not cite any specific sectors it may target.
TMT is led by Executive Director and Chairman Linan Gong, who since 2017 has served as the executive director at Hong Kong Quasar Securities Co., and Quasar Asset Management, and as the executive director at Hong Kong Dragon Financial Holdings.
Sole book-running manager Maxim has an option to purchase up to an additional 750,000 units to cover over-allotments, if any.
The SPAC plans to apply for a listing on the Nasdaq under TMTCU. Read more.
